According to MSCI’s annual review, Greece has not been added to the watch list for potential reclassification to developed markets.
Nonetheless, MSCI has indicated that future changes are possible, recognizing advancements in macroeconomic factors as well as market access and reforms.
Specifically, MSCI highlighted that the Greek market has made strides in meeting the accessibility standards typically associated with developed markets in Europe. Additionally, Greece fulfills the economic development criteria required for developed market status.
However, during the MSCI 2025 Market Classification Review, Greece fell short of the newly established Size and Liquidity persistency requirements.
With the recent updates to the Size and Liquidity Requirements under the MSCI Market Classification Framework, a persistency rule was introduced, necessitating at least five companies to consistently meet Developed Market Standard Index criteria for an upward reclassification.
MSCI also mentioned that it considers European countries classified as Developed Markets as a single entity when constructing and maintaining indices. This approach reflects the high level of integration across European equity markets, which includes harmonized market infrastructure, regulatory alignment, and cross-border accessibility.
Consequently, discussions regarding Greece’s potential return to developed market status continue, acknowledging progress while noting that the criteria have become more stringent.
