The upward trend in real estate prices in Greece will continue - at a moderate pace - in the next 12-18 months, Moody's estimates.

Moody's upgraded Greek banks on Tuesday, days after providing a "vote of confidence" for the Greek economy. Specifically, Moody's upgraded the long-term deposit rating for National Bank of Greece, Alpha Bank and Eurobank Ergasias, to Caa1 to Caa2, while re-affirming its rating for Piraeus Bank and non-systemic Pan-Cretan Cooperative Bank, at Caa2.
Additionally, Moody's retained its long-term rating for non-systemic Attica Bank, at Caa3.

The ECB's mechanisms and the staff of the major European banks have been placed in "enhanced vigilance", as the Turkish crisis is undergoing a new phase of accelerating, with unpredictable consequences.