Fitch: Con­fi­dence needed for cap­i­tal con­trol ease

Kathimerini English - - Front Page -

Fitch Rat­ings warned yes­ter­day that Greek au­thor­i­ties are likely to want to see fur­ther im­prove­ments in in­vestor and cus­tomer con­fi­dence be­fore cap­i­tal con­trols are ma­te­ri­ally eased at Greek banks. “In our view, the eco­nomic and po­lit­i­cal en­vi­ron­ment re­mains frag­ile and con­fi­dence has not yet re­turned to the fi­nan­cial sys­tem. Our stand-alone vi­a­bil­ity rat­ings as­signed to the Greek banks re­main at F,” it said in a state­ment, re­flect­ing Fitch’s opin­ion that the banks would de­fault if the de­posit re­stric­tions were lifted. Fitch also pre­dicted that the cap­i­tal con­trols could be grad­u­ally re­laxed from late 2016 “if the po­lit­i­cal and

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