Moody’s: Negative outlook for Greece’s banking system

Moody’s Investors Service has said its outlook on Greece’s banking system is “negative,” owing to acute deterioration in funding and liquidity.

“These pressures are unlikely to ease over the next 12-18 months and there is a high likelihood of an imposition of capital controls and a deposit freeze,” the credit ratings agency said in a report released Wednesday.

It said more than 30 billion euros in deposit outflows have been recorded since December.

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