Ser­bia main­tains con­trols on Greek-owned banks

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Ser­bia’s cen­tral bank has no plans yet to loosen con­trols im­posed in July on Greekowned banks in Ser­bia at the height of Greece’s stand­off with in­ter­na­tional cred­i­tors, gover­nor Jor­go­v­anka Tabakovic said yesterday. The cen­tral bank had stepped up mon­i­tor­ing and lim­ited trans­ac­tions by Greek-owned banks with their par­ent banks in Greece to pre­vent a spillover from

Rat­ings agency Fitch up­graded its credit rat­ing for Greece by one notch on Tues­day, say­ing the latest bailout deal re­duced the chance of de­fault. In a state­ment to an­nounce the up­grade of Greece’s long-term credit rat­ing to CCC from CC, Fitch noted that risks to the pro­gram’s suc­cess ‘re­main high.’

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