Fitch Ratings agency expressed doubts about the effectiveness of the Eurogroup deal on Greece’s debt saying not much was offered upfront.

In its press release, the ratings agency said: “The agreement reached between Greece and its Eurozone creditors reduces the risk of another Greek liquidity crisis this summer, and incentivises the country to complete its third bail-out programme,”.

“However, with little debt relief offered upfront, the Greek government may find it progressively more difficult to continue with politically controversial measures required to meet ambitious programme commitments. Implementation risk therefore remains high,” it added.