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ECB: Breakup of eurozone is out of question

12-20-2011 08:24 BJT

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The European Central Bank's Vice President, Vitor Constancio, says a break-up of the euro zone is so out of the question that the ECB is not even considering it in its risk scenarios. But he also says if it happens, it would have huge negative consequences all over Europe. His statement comes as the ECB warns in its Financial Stability Review that risks to financial stability in the eurozone have increased considerably in the second half of this year.

ECB vice president Vitor Constancio said: "What we have published today is our indicator of what we call systemic risk, which shows what is the probability based on some market indicators of two banks failing in the next two years. And that probability has increased, it’s around 25 percent, so it doesn’t mean it is going to happen, it’s just an indication of an increase of the systemic risk in the area."


Editor:Zhang Rui |Source: CNTV.CN

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