So, after a totally flawed plan that would have given money to Greece too late – only when the country risked a refinancing crisis – and at market rates that would make its debt unsustainable, the EU regained its senses and designed a new scheme that is closer to typical IMF conditionality: tranched support with some early front-loaded support and a semi-concessional interest rate.
欧盟最早搞出来的一个方案完全不对头，按照那个方案，除非希腊陷入再融资危机，否则不给它钱，那实在是太晚了，市场利率早就把希腊压垮了。经过这一番折腾之后，欧盟终于恢复了理智，重新设计了一个类似于IMF贷款条件的方案：把信贷资金分批发放，一部分以优惠利率先期到位。