Mobius warms to Greece

|By:, SA News Editor

"You can see finally that Greece is coming back with new ideas," says Mobius after putting his boots on the ground there. "The privatization program is going forward despite opposition from unions. Things aren’t easy but they are making progress."

The downgrade of Greece to emerging market status is - in Mobius' mind - an upgrade to a club of high-growth countries.

Mobius is particularly interested in the banks, but is looking at a wide range of sectors. Athens is up about 50% since July, but remains 75% below the 2008 peak. He expects to own shares in the country within the year, "provided prices don't go through the roof."

Greece ETF: GREK.

National Bank of Greece: NBG.