If Greek bonds passed muster, Athens’ debt would be eligible for the European Central Bank’s expanded bond purchasing program; the country’s capital controls may be lifted and Greece would be on its way toward an eventual economic recovery, according to Morgan Stanley.
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“It won’t be easy, and it’s likely to be far from smooth,” Morgan Stanley analysts warned, but they see passing the review as the most likely outcome.
International creditors have asked Greece to prepare additional savings measures that would be passed into law as a type of last resort to make sure the country hits its fiscal targets.
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Global X FTSE Greece 20 ETF