Draghi said to see Brexit vote cutting Eurozone GDP by as much as 0.5 pp

28 June 2016, 19:06
Sherif Hasan

Draghi scoop from Bloomberg

Bloomberg obtained Draghi comments from an EU Summit document.

  • Sees GDP reduction for at least 3 years
  • Concerned Brexit will lead to competitive devaluations
  • It's time to address bank vulnerabilities
  • 'We cannot afford not to' fix bank vulnerabilities
  • Brexit recession would affect FX markets

European GDP doesn't have much room to spare. Growth is seen at 1.6% this year, according to economists polled by BBG.

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