Global index provider Stoxx has placed the Greek stock market on its Watch List for a potential upgrade from “Advanced Emerging” to “Developed Market” status, joining similar assessments made earlier this year by S&P and FTSE.
The move signals increasing confidence in Greece’s financial and regulatory framework, more than a decade after the country’s debt crisis led to its downgrade from developed status.
According to Stoxx, the reclassification could occur as early as September 22, 2025, when it finalizes its annual classification review of 68 markets. Greece is among 10 countries, including China, Poland, and Cyprus, under review for potential upgrade.
The upgrade would place Greece alongside 23 other developed markets. Currently, 23 markets are categorized as emerging, 16 as frontier, and six remain unclassified. Countries like New Zealand and Thailand, previously on watch lists, were confirmed in their current categories and removed from further review.
Earlier this month, FTSE Russell maintained Greece’s market status but kept it under observation for a possible upgrade in its next review in September 2025.
The potential reclassification is seen as a significant boost for investor confidence and could attract more institutional investment to the Athens Stock Exchange, which has shown strong recovery in recent years.
Greece’s center-right government under Prime Minister Kyriakos Mitsotakis has highlighted such developments as evidence of economic progress. However, opposition parties like Syriza and Pasok remain critical of the pace and distribution of recovery benefits across Greek society.