Alpha Bank: Brexit will have an adverse, but not significant, effect

30 June 2016

The President of Alpha Bank Vasilis Rapanos estimated that the Brexit will have a negative effect on the prospects of the European economy and is likely to affect Greece, but these effects will not be significant.

Mr. Rapanos made the argument during the bank’s annual regular general meeting and noted that the UK’s departure from the European Union must be orderly, so that the negative consequences are limited.

According to the Alpha Bank president the Greek economy will not overcome the recession until the second semester of 2016, when minor growth rates are expected. This, he added, will contribute towards restoring trust, along with further implementation of reforms.

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