Riots may push back reforms

Recent unrest in Athens and other cities across Greece is making it harder for the government to implement crucial reforms, and threatens to derail efforts to improve public finances, said ratings agency Moody’s. «The current deadlock between the government and demonstrators is exposing a vulnerability that underpins the relatively low level of Greece’s A1 rating – namely, the inability to build up the social and political consensus needed for reform,» it said. Protesters have continued violent anti-government demonstrations for a second week in Athens after the fatal police shooting of a 15-year-old male. «The riots are the consequence of widespread discontent regarding economic and social prospects and dissatisfaction with the government,» Moody’s said. However, the roots of the turmoil do not rest with the current government alone but rather with a deeper, broader mistrust and disappointment with the political establishment, it added.