n Stanley Capital Index (MSCI) from “emerging market” status and accorded recognition as a full-fledged “developed market.”This is no mean feat for a young country, a severely embattled one with few natural resources; one where virtually everything had to be started from scratch, often under the most adverse of conditions — including belligerence, boycotts and bad press.
The MSCI did more than pat Israel on the back. In the Tel Aviv Stock Exchange, this is regarded as breaking the glass ceiling. Israel has been admitted to play in the exclusive and prestigious top league.
To put the reclassification into context, we need to realize that when it takes effect, in May 2010, Israel will rank 18th among the 24 developed market members, with a similar market weight to Denmark and Belgium and greater than Norway, Ireland, New Zealand, Portugal and Greece.
Why was Israel thus honored? Plainly, because we are doing well. With $134.5 billion in stock-market value, the TASE outdid most of its counterparts globally during the present crisis.
We ought to congratulate ourselves on our tiny, beleaguered country’s achievements, welcome the recognition these achievements are receiving from objective international assessors, and do our utmost to justify the confidence we inspire.
Source : www.timesleader.com/opinion/Israel_economy_matures_06-22-2009.html
The MSCI did more than pat Israel on the back. In the Tel Aviv Stock Exchange, this is regarded as breaking the glass ceiling. Israel has been admitted to play in the exclusive and prestigious top league.
To put the reclassification into context, we need to realize that when it takes effect, in May 2010, Israel will rank 18th among the 24 developed market members, with a similar market weight to Denmark and Belgium and greater than Norway, Ireland, New Zealand, Portugal and Greece.
Why was Israel thus honored? Plainly, because we are doing well. With $134.5 billion in stock-market value, the TASE outdid most of its counterparts globally during the present crisis.
We ought to congratulate ourselves on our tiny, beleaguered country’s achievements, welcome the recognition these achievements are receiving from objective international assessors, and do our utmost to justify the confidence we inspire.
Source : www.timesleader.com/opinion/Israel_economy_matures_06-22-2009.html
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