للمرة الأولى في 13 عاماً.. اليونان تعود للتصنيف الائتماني من الدرجة الاستثمارية
Category
🗞
NewsTranscript
00:00 After the classification of Greek bonds as junk, this comes after not only the financial crisis in 2008, but also the European credit crisis, which actually began in 2011.
00:21 The talk at that time began that it was possible for Greece to leave the European Union. We have seen a reduction in credit rating from all rating agencies, whether it was the S&P 500, Moody's or even Fitch, for the classification of sovereign bonds for Greece as junk.
00:41 But today, the first agency that classifies Greek bonds as investment bonds or BBB- was the S&P Global.
00:55 Therefore, for the S&P Global, Greece did not return to its junk bonds, and this is the first time since 2010 for this country, which has suffered a lot in recent periods.
01:11 But during this year, and even with new elections, Mitsotakis, the current prime minister, was able to change the equation and continue the reforms that the state has seen, and this great improvement in economic and financial indicators.
01:28 The interest rate that we see today is expected to continue to rise from 1.2% to 2.3% compared to the overall local income.
01:41 The general debt, which was above 200%, and was one of the highest countries with a general debt compared to the overall local income, if we include Japan and some other countries,
01:57 the general debt was able to fall from 200% to 189% in 2020, and today it is 46% to reach 140% in a short time.
02:12 This indicates how the government was able to change this equation, and even when we look at the economic growth rates for Greece, it is much better than the countries in the European Union or in the Euro area,
02:29 especially with expectations of a 3% growth in 2024. But for me, the funny thing today is that the GDP of Greece, the country that was actually subject to bankruptcy,
02:44 is now less than the GDP of the United States, which is the risk-free rate today at about 5%. We compare it to the GDP of Greece at 4.36%.
02:59 This indicates that the GDP of Greece is safer, but the GDP of Greece is less than that of the United States.
03:15 No one would have imagined that we would reach this level in the year between 2011 and 2013, but it seems that Greece is on the right track.