Board Member and Deputy Chief Executive Officer of Bank Audi Group, Aristidis Vourakis, of Greek origin, who recently submitted his resignation from the company, confirmed in an interview with MTV that he is "very disrupted by the economic developments in Lebanon. There is little reaction to the demands of the demonstrators after almost a month moving economy to standstill after pretty much losing the whole year due to never ending budget discussions. The economic developments will be very tough if no action continues."
"I have seen this through my previous job with JPMorgan happening in Greece and Cyprus and it is not a nice experience. I am concerned that Lebanon may go through this again and it is not good for any banker", he added.
"Bank Audi through our work over the last 3 years is very well prepared with good financial ratios as to an extent we were expecting this and acted more conservatively", he confirmed.
Inspired by Caretaker Prime Minister Saad Hariri's resignation speech, Vourakis concluded with one final statement: "No bank is bigger than its country".
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