Between investment grade and rule of law: Greece’s contrasting images

The Agora

Phoebe and Nick are back to examine the contrasting images of Greece abroad and how they sit side by side.

A few months ago, rating agencies started to restore the investment grade for Greece's sovereign debt - more than a decade after it was lost. It was a reflection of the growing confidence that markets have in the political situation, the government's policy choices and the country's prospects.

However, while this has been happening, there has been growing concern about the rule of law and effectiveness of justice in Greece. There have been several debates about these issues in the European Parliament, while rights groups have also raised the alarm.

The Agora spoke to Wolfango Piccoli, co-president of political risk advisory at Teneo, to discuss why investors feel they can trust Greece again and how this renewed faith can sit alongside the complaints about transparency and accountability.

Useful links

Greece is investment grade again – why it matters to keep it - ESM

Parliament concerned about very serious threats to EU values in Greece - European Parliament press release

2023 Rule of Law Report - European Commission

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