What Greek ‘NO’ vote means for food manufacturers

Irish & British food and drink manufacturers could find themselves ‘priced out of Eurozone markets’, after the Greek people voted decisively to reject an international bailout in the referendum held yesterday, 05/07/’15. The result of the vote has sparked fears that the country will quit not just the monetary union but the EU.

Should Greece exit the Eurozone, Irish & UK food and drink exporters can expect more market volatility. In the case of euro weakness, food and drink exporters could find themselves ‘priced out’ of Eurozone markets.

‘Exporters can protect themselves by looking at different currency strategies to mitigate risk and minimise losses from unfavourable currency fluctuations,’ said Carl Hasty of Smartcurrencybusiness.com