Lex

Lex: Euro flip-flops

Eurozone leaders on Thursday night agreed a rescue package for Greece including assistance from the International Monetary Fund as well as bilateral loans from fellow euro-member states. “We hope that it will reassure all the holders of Greek bonds that the eurozone will never let Greece fail,” said Herman Van Rompuy, president of the European Council. “If there were any danger, the other members of the eurozone would intervene.” The agreement followed a breakthrough earlier in the day between France and Germany on the principles of a rescue. John Paul Rathbone analyses the deal.