Moody’s: Agreement on EU Recovery Fund Credit Positive for Greece

December 14, 2020

ATHENS — The agreement made by EU leaders regarding the Recovery Fund is credit positive for Greece and other countries in central, eastern and southern Europe that will be its main beneficiaries, Moody's said in a report on Monday.

The consensus that was reached, which managed to overcome objections from Poland and Hungary to a mechanism linking disbursements to respect for the rule of law, will allow the EU's seven-year budget and the NGEU recovery fund from coronavirus to be implemented in 2021, Moody's noted.

The credit rating agency said those benefiting the most will be Bulgaria, which will receive sums corresponding to 22 pct of its GDP in 2018, Croatia (17 pct), Romania (12 pct) and Greece (11 pct).


SINTRA, Portugal — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to "stamp out" inflation if it surges faster than expected.

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Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

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