Finance Ministry: Positive Developments Are No Isolated Incidents Anymore
The positive developments that strengthen the feeling that the markets and investors' confidence in the Greek economy is being steadily restored are not isolated incidents anymore, said the Greek Finance Ministry on the occasion of Greece's upgraded ratings by Standard & Poor's to 'B' from 'B-' on Friday and revised outlook to "positive" from "stable".
The ministry said that this comes after last summer's upgraded ratings by Moody's and Fitch and in parallel it is a hint for positive developments in the future. Moreover, the positive outcome of Euro Working Group's meeting on Friday paved the way for the conclusion of the third review on Monday at the Eurogroup meeting with the disbursement of the 6.7 bln euro tranche.
According to the ministry, the Greek economy will leave behind the long period of crisis with the conclusion of the programme in August 2018 and the safeguarding of its stable access to the markets.