Greek Exit Would be ‘Massive’ Shock: ECB's Nowotny

Any Greek exit from the euro zone would pose a huge disruption with unforeseeable consequences, European Central Bank policymaker Ewald Nowotny said on Thursday.

 "These would be large, massive shocks where you would not know what the consequences would be," he told reporters, stressing he did not wish to take part in speculation about the prospects of this happening.  Asked about what additional steps the ECB could take to address the economic situation, he pointed out the ECB had already taken significant steps that needed time to show their impact. 


Asad Khan
Financial Analyst  (CFB)
050-8774861
asad@cfb.ae