Greece downgraded from developed to emerging market

[dipsydoodle]

see 7.49am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and the business world.

A reminder of the work left to do in Greece has come from S&P Dow Jones Indices, which says the country no longer classifies as a developed market. Instead, the indices provider gives it emerging market status for 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 market accessibility.

http://www.theguardian.com/business/2013/oct/31/greece-downgraded-to-emerging-market-status-by-sp-dow-jones

[Turbineguy]

1. And where did they get their financial advice????

(It's a rhetorical question.)

[dipsydoodle]

2. Their financial advice..........

mainly concerned refiguring their balance sheet using currency swops to enable Greece getting into the Euro.

The fact Greece then totally mismanaged the situation is a completely different issue.

[Turbineguy]

3. Hmmm.... yes....

Well there is that too.

[xchrom]

4. the question is: emerging to where?

no place good, it seems to me.

[geek tragedy]

5. 'emerging' is a bit optimistic, nt