Eurozone

Greece hopes for 'corona bond' to assist virus-hit countries, says spokesman

Greece hopes EU countries will agree on a common debt instrument to raise funds to support economies in combating the new coronavirus, government spokesman Stelios Petsas said in a press briefing Thursday.

"Obviously, the state of the real economy has deteriorated and continues to deteriorate. This is why we are reevaluating the situation on a daily basis," he said.

Nine EU leaders call for joint debt issuance for coronavirus spending

Leaders of nine EU countries including France, Italy and Spain called on the bloc to agree on a "common debt instrument" to raise funds to support the health industry in combating the coronavirus, as well as the broader economies, according to a letter seen by Reuters.

Investment grade remains elusive

The recent health crisis is dampening hopes of a credit rating upgrade for Greece. According to Capital Economics economist Melanie Debono, "it is now highly unlikely that any government will be upgraded by the credit rating agencies in the near future, given that the world is on the verge of a deep recession. Greece is not immune from this."

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