“With Grexit averted, guess whose debt is outperforming?” is the title of an extensive report by the news agency Bloomberg regarding the more positive than expected economic performance of Greece, an article about which the prime minister Kyriakos Mitsotakis emphasized that “more good news for the Greek economy will come soon”.

“Greece’s economic recovery is confirmed by its low cost of borrowing, which is lower than the average of investment-grade states worldwide,” the agency notes.

“Do you remember Greece?”, the publication notes. Despite the wider assessments of the British press in 2015 and even former FED chief Alan Greenspan that “it was only a matter of time” before Greece left the monetary union and the euro collapsed.

However the Grexit it never happened as this was the will of the bond market, notes the publication, quoting the history of yield fluctuations recorded by the ten-year Greek bond until its final recovery during the days of the current government.

The state of 10.3 million, contrary to any evaluation of an international househas been an investment-grade economy since December 2021, based on positive trends in inflation, per capita income, GDP growth, non-performing loans and political stability, according to data compiled by Bloomberg.

In the bond market, Greece (the Greek bond) trades at least three notches above what the investing public considers high risk and high yield. It should not return to investment grade anytime soon.

Since the Mitsotakis government took over in 2019, GDP per capita increased by 7%outperforming major economies including Germany (1%), France (1%), Italy (2%), Spain (-2%), the UK (1%) and the US (4%) according to data compiled by Bloomberg.

Non-performing loans, as a percentage of total loans, – a measure of the health of the banking system – fell to 6.8% from 47% in 2017 and8 were at their lowest point since 2017, it is noted in the publication, which is also detailed evidence of the recovered soundness of the banking system.

As added in the same publication, the political risk in Greece is at the lowest level, at least since the era before the financial crisis.

“We are the second fastest growing economy in the Eurozone”, with strong tourism and “foreign investment at record levels”, noted recently during an interview, Kyriakos Mitsotakis.