Greece Bailout

Very good Bloomberg article explaining what went down & ideas about impact/future Eurozone fun (pullouts after the jump). Graphic from France 24 (along with another good article)

The Greek financing package will consist of 109 billion euros from the euro region and the IMF. Financial institutions will contribute 50 billion euros after agreeing to a series of bond exchanges and buybacks that will also cut Greece’s debt load, the leaders’ communiqué said.
...French President Nicolas Sarkozy compared the transformation of the bailout fund to the creation of a “European Monetary Fund.”“This meeting came at a difficult time,” Merkel told reporters. “I’m satisfied with the outcome because the euro countries showed today that we are up to the challenge, we can take action.”