Greece Now Emerging Market

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    Russell Investments will reclassify Greece as an emerging market country from a developed market economy, the first time it has moved a developed country to an emerging market country within its indexes. Following a three-year review, it determined Greece did not meet macro- and operational risk criteria. “While reclassifications are rare, they do occur if a country no longer meets the criteria for its current classification,” it says. “It takes three years of sustained changes in economic criteria for a country to be reclassified.”