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ECB's Nowotny says sees no major problems from possible Brexit

Wednesday, May 25, 2016 - 13:16
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A possible exit of Britain from the European Union would not cause problems for the financial system because it has already been discussed for some time, European Central Bank Governing Council member Ewald Nowotny told a German newspaper.

[FRANKFURT] A possible exit of Britain from the European Union would not cause problems for the financial system because it has already been discussed for some time, European Central Bank Governing Council member Ewald Nowotny told a German newspaper.

"If it ends up really happening, who's going to be surprised?" daily Sueddeutsche Zeitung quoted Mr Nowotny as saying in an interview published on Wednesday.

Mr Nowotny also said that he did not expect an upcoming ECB stress test to have a negative outcome.

"I do not see big problems coming our way," he told the paper when asked whether some banks would fail the test.

REUTERS