Greece on course to exit its crisis, Credit Suisse says
The Greek parliament is facing a challenging next few weeks to pass what will likely be politically difficult economic measures but, together with actions being taken from abroad, they should see the country heading towards the crisis exit, analysts at Credit Suisse said.
Further structural measures will be needed beyond 2016, the broker added.
"We see sufficient support and economic incentives for the measures to go through - while structural reforms should happen in a context of a much more stable economic and financial backdrop," the Credit Suisse European economics team said in a research note sent to clients.
In the coming weeks the recapitalisation of the Mediterranean country´s lenders should be completed, additional debt relief will be granted to Greece and as "icing on the cake" the European Central Bank´s quantitative easing will include Greek bonds.
"We expect debt relief and QE to be decided early next year, soon after the conclusion of the first review," Credit Suisse said.
"If implemented successfully, these developments, together, represent a new start for the Greek economy."
Ironically, Greece´s exit from crisis will come just as the political situation in Portugal sours.