Analysts of the Citigroup bank analysts insist that Grexit is a real possibility in the next 1 to 3 years. Taking into consideration factors like deeper recession and new political instability, the Citigroup analysts see increase of the Grexit risk.
In its 3 monthly report Global Economic Outlook and Strategy, the group forecasts that political instability in the country could lead to Greece exiting the common currency area of the Euro.
The report is pessimistic about the country’s prospects, claiming the predictions of both the Greek government and its lenders on the course of the Greek economy will be proven wrong.
The Citigroup believes the economy of Greece will continue in recession, predicting a 7.1% contraction of GDP in 2018 and a spike in inflation of 47%, based on its evaluation that Greece will have a new national currency by then.
Grexit? Troubles in the summertime?
No, thanks…
More on the Citigroup report here (in Greek)
Very reliable but a good example are banks that change their bank’s name after every scandal hoping that costumers will forget and young consumers grow into fresh brands