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Published on 8/1/2012 in the Prospect News Emerging Markets Daily.

Moody's: Greece remains negative

Moody's Investors Service said the outlook on Greece's banking system remains negative.

The negative outlook continues to reflect the agency's view that the stressed operating environment - characterized by deep and prolonged economic contraction, elevated sovereign credit risk and fragile depositor confidence - will continue to erode banks' asset quality, capital, profitability and funding, the agency said.


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