Greece Returns to Investment-Grade
Friday’s decision helps draw a line under the debt crisis that erupted in 2010 and required three international bailout programs as Greece’s membership of the now 20-member euro zone was thrown into question.
Friday’s decision helps draw a line under the debt crisis that erupted in 2010 and required three international bailout programs as Greece’s membership of the now 20-member euro zone was thrown into question.
Investors hope the New Democracy party – the clear winner of Sunday’s election, although it fell short of an outright majority – will stay in power after a run-off vote in June and continue reforms, paving the way for recovery of the credit rating from Greece.
Standard & Poor’s upgraded Greece’s credit rating one notch, taking it one step away from investment grade after more than a decade.