‘Grexit’ would have serious consequences for eurozone

Greece leaving the eurozone would have “serious consequences” for the region, and raise questions about what could lead other countries to leave as well, ratings agency Moody’s said yesterday.

Although member states are benefiting from cheaper borrowing costs thanks to the ECB’s stimulus measures and were expected to see growth gradually recover in the coming months, some, such as France and Italy, still face pressures on their credit ratings.

Greece’s junk ‘Caa1’ rating is currently on review for a further downgrade, with the country’s future in the eurozone uncertain under the government of prime minister Alexis Tsipras.