ECB board member warns exit of France and Italy from Eurozone would be “suicide”

31 January 2017
786 Views

Governor of the Central Bank of Austria and member of the ECB directors’ board, Ewadl Nowotny warned equated the departure of Italy and France from the common European currency with “economic suicide”. Speaking at an event for economic reporters in Vienna, the central banker outlined that no-one would want such an outcome, while he did not even want to entertain the idea of the two countries leaving the Eurozone. Mr. Nowotny stressed that it was it both countries’ utmost interest to remain the in the Eurozone, adding that he did not want to give credence to such notions, which were mainly driven by emotional factors rather than realistic ones and legitimise populist voices.

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