Moody’s Outlines Four Election Scenarios for Greece

Greece could face renewed political uncertainty ahead of its next national elections, Moody’s warned. The ratings agency in its latest analysis examining possible election scenarios through 2027, stresses that the country remains economically vulnerable despite years of recovery and fiscal improvement. It also underlines that recent opinion polls suggest it is unlikely that a single party would secure an outright parliamentary majority. That, Moody’s said, raises the prospect of extended coalition negotiations or even repeated elections. Both scenarios could unsettle markets and slow economic activity.

The agency nonetheless stressed that Greece has achieved a notable turnaround since the eurozone debt crisis. Unemployment has fallen to its lowest level since 2008, while economic growth has consistently outpaced the eurozone average since 2021. Public debt, meanwhile, has declined to 148% of GDP in 2025 from a peak of 206% in 2020. Yet Moody’s argued that the scars of the country’s decade-long financial crisis remain visible.

Greece still carries the highest public debt burden in the eurozone, while GDP per capita remains among the lowest in the European Union and