Greece Downgraded from Developed to Emerging Market

S&PS&P Dow Jones Indices, said that Greece no longer classifies as a developed market.
The general consensus among participants is that emerging market status is a more appropriate classification due to the following reasons:

• The Greek equity market lags behind the advancements in market practices typical of other developed markets.
• Dramatic and consistent reduction in market size over the past few years.
• Failed minimum credit ratings criteria: Greece is currently rated as B-; minimum is BB+
• Failed market accessibility criteria: o Restrictive securities borrowing and lending facilities.
-Lack of ease in transferability – market participants pointed out the difficulties in dealing with in-kind transfer and with off-exchange transaction-like facilities that make trading in the local market extremely challenging and impractical.
(source: Capital)

  • The Truth is…

    S & P are wrong in their assessment to the situation of Greece…Its not a developing country or emerging one too…It’s in a standstill situation…

  • TediUSA

    Who cares?Surely not the Greeks-their Dolce Vita is as good and uninterrupted as before.They still receive retirement lump sumps of $100 000 at 45 and keep paying themselves salaries whilst on strikes…..

  • disenchanted with real greece

    Greeks still not paying tax. Tourist enterprises don’t give receipts. Taxi drivers are a law unto themselves and refuse to give receipts. Greeks can always find the odd €10,000 when they need it. Where does all their money come from? Time for the EU to find out before another bailout.