From Crisis to Comeback, Greece Eyes Return to Developed Markets

Greece’s stock market was shut for five weeks in 2015 after capital controls were imposed amid a sovereign-debt crisis, during which banks buckled and a return to developed-market status looked remote. The episode highlights systemic risks from capital controls and sovereign–bank stress for investors in Greece and similar emerging-market situations.

Analysis

Greece’s stock market was shut for five weeks in 2015 after capital controls were imposed amid a sovereign-debt crisis, during which banks buckled and a return to developed-market status looked remote. The episode highlights systemic risks from capital controls and sovereign–bank stress for investors in Greece and similar emerging-market situations.