It is important to remember that different alcoholic drinks will have varying effects on your blood sugar. It also depends how much you drink. A single alcoholic drink (a 330ml bottle of beer, medium glass of wine) may not have a huge effect on your overall blood sugar.
If you have more than a single drink, most alcoholic drinks will tend to initially raise your blood sugar.
Typically beers, lagers, wines, sherries and liqueurs will have this effect. However, alcohol inhibits the liver from turning proteins into glucose which means you're at a greater risk of hypoglycemia once your blood sugars start to come down. If you have a number of these drinks, you can expect to see a rise in blood sugar followed by a steady drop a number of hours later, often whilst asleep. People who take insulin, in particular, therefore need to be wary of hypoglycemia.
Each person will have a slightly different reaction to alcoholic drinks so it’s well worth using blood tests to check how your body responds to it.

Drinking lots of alcohol is dangerous for anyone. However, with larger amounts of alcohol, serious hypoglycaemia can occur. Some sources (including Diabetes UK) advise strict carbohydrate management, perhaps even chips or pizza, if a large amount of alcohol has been consumed.
However, avoiding alcohol in large quantities is the best recourse.
The symptoms of drunkenness can be very similar to a hypo, which can lead to very dangerous confusion.

Furthermore, if you have been drinking heavily, there may be a risk of hypos for up to 16 hours (or even more) after you have stopped drinking.
Monitoring blood glucose levels closely is an essential part of managing your diabetes in this situation.

Drinking alcohol in high quantities regularly can cause an increase in blood pressure. Furthermore, alcoholic drinks contain calories, and therefore can lead to weight gain. Drinking alcohol can exacerbate neuropathy by increasing pain and numbness.
Low carbohydrate and low-alcohol drinks may be better than standard alcohol, but the dangers still need to be considered. Often alcohol is mixed with fizzy, sugary drinks that can impact on blood sugars.

Drinking moderately in accord with the recommended guidelines, should definitely not be ruled out. Some alcohol, red wine in particular, may even offer health benefits… not that that means you should take up drinking