Greece’s great economic comeback – WSJ

Talk about an economic comeback story. Less than a decade ago, Greece seemed like it would never recover from its economic and political trauma. On Friday, Standard & Poor’s regained its investment grade credit rating.

Greek debt improvement hits target set by PM Kyriakos Mitsotakis, although this also underestimates the scale of the transformation Mr Mitsotakis brought to Athens. S&P Global cited “significant fiscal consolidation” and the summer’s “political continuity election mandate” to explain its decision – which, as is often the case in credit ratings, comes late and for bad reasons.