ECB's Nowotny: 'Period of Cooler Heads ' Now on Brexit

The transcript discusses the early market reactions to Brexit, highlighting the potential overreaction and the need for cooler heads. It examines the impact on growth in the Eurozone, noting that different countries will be affected differently based on their economic ties with the UK. The discussion also covers the currency's role in price stability and the ECB's focus on exchange rates. Finally, it addresses the potential relocation of euro payment and settlement services from the UK to the Eurozone, emphasizing that market institutions will naturally react to Brexit.

What are the potential spillover effects of Brexit on the market?

What consensus has emerged regarding the impact of Brexit on growth in the UK and eurozone?

How might different countries in Europe be affected by Brexit?

What are the implications of the strong devaluation of the pound?

What is the ECB's stance on the appreciation of sterling?