|
|
|
Athens Macedonian News Agency: News in English, 16-06-24
CONTENTS
[01] How Brexit may affect the Greek economy
[01] How Brexit may affect the Greek economy
Britain's decision to leave the European Union may hit Greek exports
to the country and affect businesses and tourism, however the size
and structure of the Greek economy will shield it from heavier losses,
market executives and bankers said on Friday.
"Britain's exit from the European Union is a heavy blow to European
unity and economy," Bank of Piraeus chairman Michalis Sallas told German
newspaper Handelsblatt. "Regarding Greece, because of its small size
and the structure of our economic relations, I believe the impact of
the Brexit will be limited. Which is why I think the extreme, knee-jerk
reaction of the Greek market is not justified."
Earlier, Bank of Greece officials said the referendum's impact on
Greece will be small and its consequences limited, because of the
capital controls.
Concerning exports, the negative result of the British vote could
hit all the export-oriented sectors of the Greek economy, said
Christina Sakellaridis, the president of the Pan-Hellenic Exporters
Association. Speaking to ANA-MPA, she said Britain is Greece's seventh
largest customer and the devaluation of the sterling against the euro
makes domestic products more expensive.
In tourism, one risk of the Brexit could be last-minute cancellations
to Greek hotels as the purchasing power of British tourists weakens, the
president of the Hellenic Federation of Hoteliers (HHF), Yiannis Retsos
told ANA-MPA. He said if the devaluation of the sterling continues,
there is a very serious possibility that last-minute bookings from
Britain could suffer, adding however that at this point we cannot have
a long-term evaluation of the consequences.
|
