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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
After the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
For many market participants the two upgrades set the tone of what is to be expected for Greece’s rating reviews during the cycle that is due in the second half of the year.
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