For those confused by the CDS developments surrounding Greece.
This may not solve your confusion, but at least it’s a start. This is a timeline of auction settlements following a restructuring visualized by Allen & Overy and brought to us from Economics of Contempt.
Whatever happens with Greece, one thing we can count on is things to continue to increase in complexity. A sovereign default this large is not something the world has experienced, there will be many political speed bumps and implications along the way.