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Pringuet announces end of euro crisis
Pernod Ricard’s chief executive Pierre Pringuet has said that the sovereign debt crisis in Europe “is over”.
Speaking in London today (21 February), he said that the measures to support the Greek economy agreed in Brussels earlier this week plus those put in place at the end of last year, were sufficient to convince him that stability would be returned to the country and the single currency over the medium term.
“We don’t have any contingency plan in connection with the possible destruction of the euro, because I don’t believe that will happen,” Pringuet said.
Pringuet added that while the package to rescue Greece could have been agreed “quicker,” Europe’s public debt problems have been solved. “My perception is that the public debt crisis is over, ” he said.
In addition, Christian Porta, the chairman and chief executive of Pernod Ricard’s Chivas Brothers whisky arm, revealed that while the loss of demand in Greece was unwelcome, in the past year it had already more than compensated for the lost Greek sales via burgeoning sales in Turkey.