Welcome to socialism! Greece downgraded from developed to emerging market economy.

Discussion in 'Politics & Religion' started by Grandluxe, Mar 3, 2013.

  1. Greece reclassified to 'emerging market' from developed

    By Louisa Peacock7:48PM GMT 02 Mar 2013

    Russell Investments, which advises funds with $2.4 trillion (£1.6 trillion) in assets, said the Greek economy has been a "world concern" since it revealed unsustainable levels of public debt in 2009.

    The American-based company said Greece, which Russell designated as a developed market in 2001, has been on a path towards reclassification as an emerging market since 2010, having failed Russell's operational and macro risk tests, including per-capita income, total market capitalisation and the level of trading volume, which determine the economic health and status of countries.

    Managers at Russell will be forced to buy and sell shares to align holdings with their funds' criteria, following the reclassification.

    Greece is the first country Russell has cut to emerging from developed market status.
    Russell's global indexes methodology describes a three-year path towards a country's potential reclassification – by way of the company's developed, emerging or frontier market categorisation – as having become either more or less risky for investors.

    The statement said: "Russell’s methodology requires developed markets to be, in general, the least risky and most efficient in which to trade."

    http://www.telegraph.co.uk/finance/e...developed.html

    :eek:
     
  2. jem

    jem

    that is the leftist dream for america.
    all the money concentrated back in the hands of the cronies and workers just making a enough to get to work and eat processed food.
     
  3. Greece is not an emerging market. It is a deteriorating market, which is opposite of an emerging market.

    Gee, I hope EEM doesn't invest in Greece. Oh, crap.
     
  4. Ricter

    Ricter

    Welcome to German gambling is more like it.
     
  5. Greeks default every few decades. It's a way of life with them I suppose... kind of cool really, sit around eating a great diet and enjoying life in a fantastic climate and borrowing way more than can be repaid. Then one day it's "whoops, sorry folks, we can't be making those payments now can we? We were victimized you know!"
     
  6. Coming to America soon as Obama will have you believe that you can live on unearned productivity for eternity. FREEBIES for all!:D
     
  7. Ricter

    Ricter

    If that's truly the Greek way, then the recent lenders were irresponsible.
     
  8. Lol the West did invent time travel. It's called.. socialism.

    Socialism: A throwback system of govt where life for the majority of citizens sucks more. Notably ruled by an 'elite' class that abides by a different set of rules than that of it's slaves, err.. subjects.
     
  9. Lucrum

    Lucrum

    It's the lenders fault?