Part 9/11:
On a positive note, Europe has seen significant progress, notably Greece's transformation over the past decade. The FTSE Russell announced that it will reclassify Greek equities from an emerging market to a developed market, effective September 2026. This decision marks a milestone for Greece, nearly a decade after its near-default debt crisis that threatened its euro membership.
The Athens stock exchange responded positively, with the index rising up to 1.4% on the news, extending its year-to-date gains to 42%. The upgrade is expected to attract increased international investment, as funds tracking developed markets will now be able to include Greek stocks more easily.