Brexit text with British and Eu flags illustration

Britain’s decision to leave the European Union, Donald Trump’s election to the US presidency and political turmoil in Italy are not spooking markets, European Central Bank (ECB) President Mario Draghi says.

“The markets, the financial intermediaries proved much more resilient than people had expected them to be,” Draghi says, listing tighter financial regulation and “better macroeconomic context” as probably stabilizing factors.

However, he warns that these events may have longer-term consequences.

“By their very nature, they are going to develop their full dimension in the medium- to long-term,” the ECB chief says. “Consequences are very, very difficult to assess now.”

Source: dpa/GNA/


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