MSCI announced the launch of consultations on a proposal for the potential reclassification of Greece from Emerging Market status to Developed Market status.
The public consultation will last until March 16, with the final decision to be announced by March 31 and implemented from August 2026.
MSCI had recognized the progress of the Athens stock market on a number of issues, meeting most of the criteria for joining the Developed Markets.
However, ATHEX was still not in line with the strict size and liquidity persistency rule, which should concern at least five listed companies.
Provided that European countries are treated as a single entity, which falls under Developed Markets, MSCI had left open the possibility of exempting Greece from the controversial rule.
Therefore, the recent announcement comes to confirm the intention of the institute, which gives the parties involved the opportunity to submit their views before making its final decisions.
“Investors perceive the European Union as a particularly integrated economic and financial bloc, which makes the differentiated treatment of Greece in the classification of markets seem inconsistent,” said Raman Aylur Subramanian, Head of Market Classification at MSCI.
“Higher liquidity in transactions and reforms to improve accessibility implemented in recent years have brought Greece more closely in line with the standards of developed European markets, justifying the consultations on a possible reclassification.”
FTSE Russell has already announced the upgrade of ATHEX to Developed Markets from September 2026, while the Stoxx 600 is expected to do the same very soon.
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