Policy reactions to the Eurozone crisis

S&P says Greece’s credit rating can be upgraded

Greece’s credit rating could be upgraded to B, from CCC+ after completion of a first review of the Greek economic adjustment program, disbursement of loans according to a ESM schedule and probably combined with an ECB decision to begin accepting Greek state bonds as collateral again, Standard & Poor’s said on Thursday.

EWG completes positive compliance report for Greece

The Euro Working Group (EWG) came to a “broad agreement” on Greece during its Friday meeting concerning the implementation of prior actions for Greece. Eurozone sources said on Friday that the institutions of Greece’s lenders (EC, ECB, IMF, ESM) completed a positive compliance report that was presented to the eurozone finance ministry representatives.

ESM Chief says Greece doesn’t need a debt haircut

European Stability Mechanism (ESM) General Director Klaus Regling told MEPs of the European Parliament’s Committee on Economic and Monetary Affairs that member states will monitor the progress of Greek reforms and will decide on whether there will be discussions on further debt relief. He made it clear that a haircut on nominal debt for Greece wasn’t on the cards.

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