ECB Vice President Luis de Guindos hailed that “the results of the elections in Great Britain are positive because they eliminate uncertainty in the short term”. And, “we know perfectly well that on the 31st January the United Kingdom will leave the union – this is good in terms of uncertainty, but also hails a new period, one which will not be easy.” “It will not be easy because commerce rules will have to be renegotiated.”

Separately, Governing Council member Francois Villeroy de Galhau said “The economic situation in the euro zone is beginning to stabilise … and as the situation stabilizes so does monetary policy”. He added, “we are applying the measures decided in September and aren’t adding any more… For how long depends on the economic situation and its improvement.” Another Governing Council member Bostjan Vasle said “domestic factors represent the main drive of economic activity while the growth of foreign demand will be weak”.

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