ECB's Villeroy: Priority must be dealing with Brexit

Speaking in Paris, the ECB governing council member and Bank of France head Villeroy, said that dealing with post-Brexit shocks remain the top priority of the central bank.

Key Quotes:

“Brexit is not a game-changer, but it does highlight need to give renewed impetus to the European project”

“Brexit will have an impact on the Euro area economy, but this impact will be more modest than in the UK“

“Cooperation between central banks to cope with Brexit vote has been effective; we on the ECB governing Council remain fully mobilised and determined”

“It is important to reduce the uncertainty over Britain: the quicker, the better”

“Brexit does not change our economic projections for this year in France: we still expect growth of at least 1.4 pct”

“For the UK to maintain access to the single financial market, all the usual EU rules should be strictly respected”

“On future EU trade negotiations with Britain that what is clear is that there can be no cherry-picking and no free-riding”