Greece Loses Developed Market Status

Greece formally lost its developed market status on Wednesday, with Greek equities moving into the MSCI Emerging Markets Index instead.

The move came after MSCI, a leading provider of equity indexes, said in June that the Greek index failed to meet criteria regarding securities borrowing and lending facilities, short selling and transferability.

It prompted fears that such a downgrade might drive away investors, but many analysts argue that the outlook for Greek stocks is now in fact a lot rosier.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza