Euro Adjustment Half Done: Moody’s

Rating agency says the eurozone's peripheral nations are ‘at best’ halfway to correcting their economic imbalances.

Euro-area peripheral nations are “at best” halfway through correcting the economic imbalances that helped cause the debt crisis and must press on with structural reforms, Moody’s Investors Service said.

“Adjustments, both in the periphery and the core, have already taken place -- in some cases, to a significant degree,” Moody’s analysts including by Sovereign Chief Economist Lucio Vinhas de Souza in New York said in a report published today. The process “is at best only half complete.”

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