Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Euro zone mulls action to isolate Italian turmoil - ECB's Praet

Euro zone mulls action to isolate Italian turmoil - ECB's Praet
European Central Bank (ECB) executive board member Peter Praet speaks during an interview with Reuters in Frankfurt, Germany, March 14, 2018. Picture taken March 14, 2018. REUTERS/Ralph Orlowski -
Copyright
RALPH ORLOWSKI(Reuters)
Text size Aa Aa

LONDON (Reuters) - Euro zone policymakers have discussed using the bloc's bailout fund, or European Stability Mechanism (ESM), to prevent financial tension in Italy from spreading to other indebted countries, the European Central Bank's chief economist said.

"There is one discussion which is at the political level about precautionary measures we could take if there would be spillovers to (other) countries," Peter Praet told an audience in London on Tuesday.

"(These are) not central bank measures, it is related to the ESM and to countries ... having spillovers to some external events."

(Reporting By Marc Jones; Writing by Francesco Canepa in Frankfurt; Editing by Janet Lawrence)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.