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Greece has a capitalist economy with the public accounting for around 40 percent of the gross domestic product, or GDP. The majority of Greece's economy centers around the service sector, which... Greece has a capitalist economy with the public accounting for around 40 percent of the gross domestic product, or GDP. The majority of Greece's economy centers around the service sector, which...
Issued: 08 March 2013. A large US fund manager recently reclassified Greece as an Emerging Markets country. (âGreece Reclassified as an âEmerging Marketââ, CNBC, Holly Ellyat, March 4, 2013). Greece is not an Emerging Markets country, because it is too rich and its financial system is too. developed. Greece is simply a bad credit. The example of Greece illustrates a basic fundamental. principle of investing that all countries are risky and all countries can become bad credits.