FRANKFURT – The euro zone’s monetary system is coping effectively with the battle in Ukraine and the related Western sanctions on Russia, European Central Financial institution Vice President Luis de Guindos stated on Wednesday.
“For the euro space, the monetary stability impression of the battle has to date been comparatively contained,” de Guindos instructed a convention. “Markets have typically been functioning effectively.”
“Whereas each banks and non-banks have been affected – particularly the few which have giant direct exposures to Russia and Ukraine – the financial fallout has not had a sizeable impression on the EU banking or monetary techniques as a complete,” he added.
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