Thursday, July 11, 2013

Greece Will Become The First-Ever Country To Lose Its ‘Developed Market’ Status

Mark Mobius, Investment Adventures In Emerging Markets

In June, major international equity index provider MSCI confirmed Greece’s sojourn among the ranks of “developed markets” would end later this year as it will become the first-ever country to lose its “developed market” status in the MSCI universe.1
Interestingly, Greece was classified as emerging when I started with the Templeton Emerging Markets Group in 1987, and while the recent news might conjure up images of a significant turn for the worse for the country’s economic fortunes, MSCI’s explanation for Greece’s reclassification was actually more mundane.
Read more@businessinsider.com

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