October at the earliest the investment stage in Greece

October at the earliest the investment stage in Greece
October at the earliest the investment stage in Greece
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Societe Generale comments in its report on the markets’ reaction to the June 21 elections.

The election result of the first round significantly increased the chances of the ND winning more than 150 of the 300 seats in the parliament in the coming elections. A recovery of the investment grade rating by the end of 2023 seems reasonable, he points out, estimating that this could be done as early as October.

The only obstacle to upgrading Greece’s rating seems to be political uncertainty. That is, if the policy change leads to a halt in structural reforms and the flow of Recovery Fund funds. That is why the surprise in the results of the first round created a cheerful mood in the markets.

A June 9 upgrade from Fitch looks unlikely with the second round of elections still pending, but we believe an October 20 upgrade from S&P or December 1 from Fitch is almost certain now, he points out.

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The article is in Greek

Greece

Tags: October earliest investment stage Greece

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