From the Liveblog of
Wednesday, November 9, 2016
European Central Bank official: Trump win ‘not good day for world economy’
Add ToI as a Preferred Source on GoogleTrump’s shock election win “is not a good day for the world economy” and could force the European Central Bank “to intervene,” governing council member Ewald Nowotny says.
Nowotny tells reporters in Vienna the ECB is “prepared to intervene” as he warns of “massive insecurities” after the vote outcome sends shockwaves through global markets.
“Close observation is certainly necessary right now,” says Nowotny, who is on the ECB governing council that makes monetary policy decisions in his capacity as head of Austria’s central bank.
Europe’s recovery could also be affected if Trump’s presidency took a “menacing turn,” he says.
Nowotny says he expects “a period of uncertainty in the medium term,” as happened after Britain’s June decision to leave the EU.
— AFP
The Times of Israel Community.