There will be massive disruptions in financial markets if Greece exits the euro area, European Central Bank Governing Council member Ewald Nowotny said Thursday.
The central bank has taken accommodative measures. These measures may take some more time to show its impact, he added.
Elsewhere, Germany's Bundesbank on Wednesday said euro area will face significant challenge if Greece exit from the region. But it would be manageable with the help of cautious crisis management.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.