The Athens stock exchange CEO, Yannos Kontopoulos, is a step closer to his big goal, which he set since the first day of assuming his duties, 2.5 years ago.
FTSE placed the Athens stock exchange on a “watch-list” in view to upgrade it to “developed” status.
During the term of Yannos Kontopoulos, FTSE was the second rating agency, which placed the Athens stock exchange on a… waiting list for a future upgrade in developed markets, as a relevant decision of S&P DJI preceded.
On the other hand, the two other rating agencies, i.e. MSCI and Euroxx, have not yet taken any corresponding action, keeping the stock market in the emerging category.
Unique in the Eurozone
Certainly, a possible return to the “mature” markets in 2025 or 2026 will be an important “reward” for the head of the Athens stock exchange, who has made its upgrade one of the primary goals of his administration.
And not without reason, if we consider that the Athens stock exchange is the only one in the Eurozone, which remains in the emerging category, after successive downgrades during the financial crisis.
But for this to happen, further work is required. Something that Kontopoulos himself recognizes.
“No” to complacency
For this reason, complacency is considered the worst ally in this long effort, which resembles a marathon and not… a sprint.
So, what Kontopoulos is called upon to do is to continue the work with even higher intensity and efficiency, as there is much room for improvement both at the level of the capital market and at the level of listed companies.
The road for a better market has been paved, as long as we make the right moves.
