CFOs from midsized companies continue to pursue international expansion, but are becoming more cautious about where they chose to invest, according to a survey conducted by accounting firm BDO, CNBC reports. They are particularly wary of the beleaguered nations of Europe, seeing Greece as a riskier investment than Libya or Syria.

Greece was ranked as third most risky, after Iran and Iraq. The CFOs surveyed are attracted to what the report refers to as the Big 7: China, the U.S., Brazil, India, Germany, Russia and the U.K. The report notes that the BRIC nations – Brazil, Russia, India and China – re regarded as established, rather than emerging, markets.

France dropped to 13th most attractive country for investment in this year's survey, down from seventh most attractive last year, and Japan fell to 27th place from 17th.

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