Greek bailout deal: how the figures break down

Guardian
July 22, 2011

For more than a year, Europe's attempts to get to grips with its sovereign debt crisis have been dogged by the conflicting signals emitted by the rival players in Berlin, Frankfurt, Paris, Brussels, and Athens, usually tailoring their messages to very different constituencies. There has been a problem of "communication and miscommunication", a senior EU official admitted. "A certain cacophony of messages."

The noisy confusion and misrepresentation has persisted following the eurozone summit agreement on a new bailout package for Greece and an ambitious new rescue fund for the euro.

"One of the most chaotic summits ever," said Sony Kapoor of Re-Define, an economics thinktank in Brussels. "There were many mixed and often contradictory messages on the numbers."

More