Citi predicts ‘Grexit’ in 1 to 3 years

3-monthly report says recession will reach 7.1% in 2018

Citi analysts maintain a Grexit is a real possibility in the next 1 to 3 years. In its 3 monthly report, 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. Citi 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.