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Brexit-linked dangers being underestimated, ECB's Nowotny says

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Brexit-linked dangers being underestimated, ECB's Nowotny says
Austria's National Bank, OeNB, Governor Ewald Nowotny speaks during an economics conference in Linz, Austria, July 5, 2018. REUTERS/Lisi Niesner   -   Copyright  LISI NIESNER(Reuters)
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VIENNA (Reuters) – The dangers linked to Brexit for Europe continue to be underestimated, European Central Bank policymaker Ewald Nowotny said on Thursday.

“In Europe we have … the challenges emerging from Brexit,” Nowotny, who sits on the ECB’s Governing Council as the head of Austria’s central bank, told a conference on financial supervision.

“I personally believe that, in relation to the potential dangers, that is in part still being underestimated,” he said, adding that there were many signs that the risk of a hard Brexit was becoming “relevant”.

(Reporting by Francois Murphy; editing by John Stonestreet)

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