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Brexit might usher political instability, fluctuations on financial markets: Slovak official

Xinhua, June 20, 2016 Adjust font size:

Britain's departure from the EU might usher in political instability as well as potential fluctuations on financial markets, said Slovak Central Bank Governor Jozef Makuch on Monday.

Makuch noted that the European Central Bank (ECB) is carefully analysing the potential impacts of "Brexit" and is prepared to respond to any such fluctuation. Makuch, a member of the ECB Governing Council, echoed the words of ECB President Mario Draghi who said that the bank is ready for whatever outcome.

According to Draghi, Britain's potential departure poses several risks.

"What concerns us the most is insecurity on financial markets, where volatility linked to unpropitious prospects for trade and investments might increase. This is where we can act in the best way, as we've responded to rises in volatility numerous times," said Draghi.

Makuch added that EU member states have been working on stepping up European integration for years and this might pose a risk as well.

"There are issues that require unanimity, which might be difficult to achieve in an unstable environment," stressed Makuch.

The referendum on Britain's membership of the EU is due to be held on Thursday. Endit