Wednesday, November 21, 2018 4:30:05 AM - Markets open
VN-INDEX 919.02 +2.96/+0.32%
HNX-INDEX 103.91 -0.04/-0.04%
UPCOM-INDEX 52.06 -0.34/-0.65%
Brexit will be a key challenge for 2018, says next euro zone finance chief
CNBC - 12/14/2017 3:01:09 PM
 (0 ratings. You must sign in to rate.)
The U.K.'s departure from the European Union is among the top concerns for the euro area going into 2018, the incoming Eurogroup chief told CNBC.
"Brexit is a challenge and it's a challenge that is a negative shock certainly for all these economies," Mario Centeno, the incoming Eurogroup president told CNBC exclusively Wednesday. The Eurogroup is the meeting of finance ministers from the 19 countries that share the euro.
When asked about potential risks for the euro zone in the new year, Centeno said that "certainly we need to follow up on the Brexit process that I expect to be understood as a structural reform." He added that politicians in the region need to give time for economies to adapt to these structural changes.
Though the U.K. voted to leave the European Union in the June of 2016, the process is far from over with the terms of its departure yet to be finalized. As a result, the economic shocks that can eventually come from that are still not fully known.
However, this should not prevent the euro area from continuing to reform, he said. "From a negative shock we can and we should build positive solutions," Centeno told CNBC.
Europe faces other challenges in the new year, with Germany having to overcome its political impasse and Italy voting on a new government in March. However, these events and their potential impacts on the euro area do not worry Centeno.
"If you look back and you see the results of the Dutch election, then of the French election, also somehow the German elections, we have been able in Europe to find solutions that are pretty much at the core of the development of Europe," Centeno said.
"So I won't be quite so worried about it," Centeno, who is also the finance minister of Portugal, added.
Silvia Amaro
Digital Reporter,
Read original article here
Newer News
15/08 European stocks enjoy breather as Turkish lira rebounds
12/07 OPEC warns of trade war 'risks' for oil market
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 3:10:47 PM
VN-INDEX 919.02 +2.96/+0.32%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.