''ECB's Nowotny doubts Greek exit would be ''manageable''

From Ekathimerini

''European Central Bank Governing Council member Ewald Nowotny said a Greek euro exit would lead to “massive distortions.”

When asked whether he agreed with Germany’s Bundesbank that such an event would be manageable for the euro area, Nowotny told reporters in Vienna today that “depends on what you consider manageable.” It “would create big, massive distortions, where you don’t know what the consequences would be,” he said, urging policy makers to “avoid speculation.''

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