Moody’s on Monday joined the growing number of sirens warning of negative developments for the Greek economy due to continued delays in completing the second review of the Greek program (third bailout), with the ratings agency pointing a threat in the restructuring of Greece’s battered systemic banks.
Moody’s refers to delays that threaten to “jeopardize” the banks’ restructuring, especially goals of lower non-performing exposures by roughly 40 percent until the end of 2019.
The agency also said that a timely implementation of the Greek program is crucial to Greece’s economic growth and a return of depositors’ and investors’ confidence in country and its banking system.
