MSCI has cut Greece's classification to emerging market from developed market, making the...

|By:, SA News Editor

MSCI has cut Greece's classification to emerging market from developed market, making the country the first to suffer such a demotion. MSCI attributed the move to Greece not meeting requirements related to securities borrowing and lending facilities, short selling, transferability and stock-index size. MSCI's decision follows similar action from Russell Investments in March.