Moody’s has given a ‘Credit Negative’ in its report regarding the delays in the completion of the first review on the Greek stability program by the country’s creditors. The ratings agency warns that if talks drag into July it would raise the risk of a liquidity crisis in the Greek economy, which would in turn hinder any talks of a debt relief. Amid the negative progress in the talks, Moody’s claims that political uncertainty has returned to the country and does not rule out early elections. The agency says Greece needs a total of €7.5bln for bond payments between May and December 2016, €5bln of which are due in June and July to the IMF and the ECB. In addition to its loan obligations, Greece has to fork out €1.5bln in public sector wages and salaries every month, according to Moody’s. The house continues by underlining that the coalition government of SYRA-ANEL have a slight 3-seat majority in parliament and could find it difficult to pass new harsh measures for reforms in the social security system and taxation. Opposition New Democracy is ahead in all the polls and could push Tsipras to hold early elections, estimate Moody’s analysts.