•  Second, adoption of inflation targeting by a number of central banks since the 1990s made effective communication an integral part of policy making. Monetary policy committees were formed and minutes started being published. •  Third, the innovations in information and communication technology made the speed and form of communication from central banks quite revolutionary.
The details of a new financial assistance programme need to be worked out by summer. Greece certainly needs further assistance from the rest of the euro area. However, further assistance can only be granted if Greece continues with its efforts to restore sound public finances and competitive economic structures.