What do the following phrases mean in C++: zero-, default- and value-initialization?

C++03 Standard 8.5/5:

To zero-initialize an object of type T means:
— if T is a scalar type (3.9), the object is set to the value of 0 (zero) converted to T;
— if T is a non-union class type, each nonstatic data member and each base-class subobject is zero-initialized;
— if T is a union type, the object’s first named data member is zero-initialized;
— if T is an array type, each element is zero-initialized;
— if T is a reference type, no initialization is performed.

To default-initialize an object of type T means:
— if T is a non-POD class type (clause 9), the default constructor for T is called (and the initialization is ill-formed if T has no accessible default constructor);
— if T is an array type, each element is default-initialized;
— otherwise, the object is zero-initialized.

To value-initialize an object of type T means:
— if T is a class type (clause 9) with a user-declared constructor (12.1), then the default constructor for T is called (and the initialization is ill-formed if T has no accessible default constructor);
— if T is a non-union class type without a user-declared constructor, then every non-static data member and base-class component of T is value-initialized;
— if T is an array type, then each element is value-initialized;
— otherwise, the object is zero-initialized

A program that calls for default-initialization or value-initialization of an entity of reference type is ill-formed. If T is a cv-qualified type, the cv-unqualified version of T is used for these definitions of zero-initialization, default-initialization, and value-initialization.

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