Government officials may be trying to make fun of Moody’s rating agency’s refusal to upgrade the Greek debt, but the truth is that it is a slap in the face. This is the only house that has not yet given the Greek credit an investment grade.
It is even noted that the upgrades of the Greek debt by the other houses are not enough.
In his post on “X”, Giorgos Kyrtsos talks about political complacency for Maximos.
He even adds that Portugal, which also went through a similar situation, regained investment status already in 2017.
And he adds referring to Moody’s:
- The production model remains problematic and “produces” increasingly large external deficits.
- Public debt remains the largest in the EU-27 despite falling from the 2020 record.
- The demographics, with a 20% drop in births under Mitsotakis, undermines the economic outlook.
To conclude that we must prepare “for new economic, social upheavals despite the government’s propaganda of economic successes”.
Giorgos Kyrtsos’ post:
Moody’s refusal to give Greek bonds an investment grade was a political cooldown for Maximos. In the 7th year since exiting the memorandum and still without investment grade, while Portugal – which also went through bankruptcy and a memorandum – recovered it in 2017. What is going wrong and the government pretends not to see it? Moody’s report is clear. The production model remains problematic and “produces” increasingly large external deficits. Public debt remains the largest in the EU-27 despite falling from the 2020 record. Demographics, with births down 20% under Mitsotakis, undermine the economic outlook. So prepare for new economic, social upheavals despite government propaganda of economic success.
Moody’s refusal to give Greek bonds an investment grade was a political chill for Maximos.
In the 7th year since the exit from the memorandum and still without investment grade
while Portugal – which also went through bankruptcy and a memorandum –
he recovered it in 2017.…— Giorgos Kyrtsos (@GiorgosKyrtsos) September 16, 2024
In another post he notes:
The positives for the Greek economy, according to Moody’s rating agency, are our… misery. The rating agency did not give the investment grade to the Greek bonds considering that the Greek economy faces serious structural problems and lack of competitiveness. The positive points he found were the primary budget surpluses and the drastic reduction of bad bank loans. However, the surpluses are achieved with record consumption taxes and limiting spending on public investments, Health, Education. As for the reduction of bad loans, it is achieved through profit-making funds that combine a record of social cruelty, profitability and capital export.
The positives for the Greek economy,
of Moody’s rating agency
it’s our..misfortune.
The rating agency did not give the investment grade to the Greek bonds considering that the Greek economy is facing serious structural problems and lack of competitiveness.
The…— Giorgos Kyrtsos (@GiorgosKyrtsos) September 16, 2024
Read also:
EOPYY – Mammoth fraud of 3.5 million euros: Pharmacists and doctors in the circuits – 16 people arrested
Delirium Adonis: Insults against Polakis, shouts at Pappa who was outside the panel (Videos)
Corruption party in “Metaxa”: The finding for the former Governor is a shambles – He is asked to return 500,000
Data – Eurostat fire: Greece third worst in the EU in terms of material and social deprivation
Documento reveals how criminal records are falsified – From 10,000 to 30,000 euros the price
SYRIZA owes Polakis
#Kyrtsos #Moodys #refusal #give #investment #grade #chilling #government
