All Eyes on Greece

The Greek government continues new bailout talks with its EU partners and the International Monetary Fund, and many involved in the negotiations are hopeful a new agreement can be reached quickly.  At the same time, when the Athens Stock Exchange resumed trading on August 3, after being closed since June 29, 2015, we observed a significant sell-off that drove down the market substantially.

Prior to the August 3 sell-off, in anticipation of the resumption of trading, the Greek government relaxed some capital controls for international investors.  MSCI is continuing to assess the status of these capital controls and the implications for international investors.

If the Greek government takes restrictive measures that affect the accessibility of the Greek market to international investors, MSCI may consult with market participants on a proposal to reclassify the Greece indexes from the Emerging Markets category to Standalone Market status.

As we announced on July 29, 2015, MSCI will not make any changes in the status of its Greek indexes as part of the upcoming August 2015 Quarterly Index Review.  This includes potential migrations among size-segments; additions of newly eligible securities, including sizable IPOs; changes in the Foreign Inclusion Factor (FIF); updates in the number of shares updates and GICS changes in the MSCI Greece indexes, or similar changes for the constituents of the MSCI Factor, Thematic, ESG or other derived indexes of the MSCI Greece Investable Market Index (IMI).

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Product Insight

June 30, 2015
What If Greece Leaves the Euro?
Stress Testing the Greek Exit Scenario Using MSCI RiskManager.
Authors - Carlo Acerbi, Zsolt Simon, Vivek Sridhar, Thomas Verbraken

RiskMetrics® RiskManager

RiskManager’s powerful analytical capabilities enable clients to quickly set up custom reports, run ad hoc analyses, perform exception management, design stress test scenarios and conduct what-if analysis.

Webinar

June 30, 2015
A Stress Test in RiskManager: What If Greece Leaves the Euro?