Citigroup report forecasts Greek eurozone exit

A report published on Friday by US bank Citigroup forecasts that Greece will exit the eurozone in the next 12 to 18 months and expects the country’s economy to shrink by 11.5 percent this year and 6.5 percent in 2014, the year that Athens expects a return to growth.

The local branch of Citigroup rushed to distance itself from the estimates of its parent company, saying on Friday they only reflect the views of those who have drafted the report.