Rafail graduated from the Department of International and European Studies of the University of Piraeus with summa cum laude. He follows a postgraduate programme in Financial and Management Engineering at the Department Financial and Management Engineering of the University of the Aegean. He speaks fluently English and German. He works as intern at the Bank of Greece. Previously he has worked on the Hellenic Capital Markets Commission. His research interests are focused on the international financial markets, credit rating agencies, and international political economy.