ECONOMY

ECB’s Nowotny says impact of any Greek exit less now than before

Were Greece to leave the euro, it would not have the same impact on the euro zone as it would have had two years ago, an ECB policymaker said on Monday, urging Greece’s government to provide «numbers» so that aid could be provided to the country.

“One should not overestimate the whole story,» Ewald Nowotny, a member of the European Central Bank’s policy-setting Governing Council, told broadcaster CNBC. He said he did not expect a deal when euro zone ministers meet later this week.

“It (a Greek exit) does not have that impact or potential impact on the euro zone as it would have had … some two year’s ago. I really don’t see a contagion in the financial and economic sense,» adding, however, that he could not predict the «psychological effect».

The head of Austria’s central bank urged the government in Athens to provide «numbers». «Time is running out,» he said.

[Reuters]