Credit ratings agency Moody's says Greece's approval of austerity measures "averts an immediate disorderly default and potential exit from the euro" but warns that "risks remain elevated" given substantial skepticism within the country on the bailout conditions.
The Greek parliament's approval of the economic measures paves the way for eurozone finance ministers to open talks on a third rescue package for the country worth some 85 billion euros over three years.
Moody's notes, however, that "judging by recent events and the deep economic problems and social divisions within society, it is highly uncertain whether the Greek authorities have the capacity to achieve agreed objectives and to abide by its creditor's conditions."
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