👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

EU's Moscovici warns against status quo to prevent other exits

Published 03/07/2016, 08:21
Updated 03/07/2016, 08:30
© Reuters. European Economic and Financial Affairs Commissioner Pierre Moscovici leaves a meeting after Britain voted to leave the European Union, at the Elysee Palace in Paris, France

AIX-EN-PROVENCE, France (Reuters) - The euro zone should accelerate its economic and political integration otherwise other countries may be tempted to follow Britain's example and leave the EU, Economic Affairs Commissioner Pierre Moscovici said on Sunday.

"We shouldn't just put up with Brexit, we should forge ahead, it can be a good opportunity," Moscovici said, adding that the euro zone needed to complete its banking union by adding a deposit guarantee and financial backstops.

© Reuters. European Economic and Financial Affairs Commissioner Pierre Moscovici leaves a meeting after Britain voted to leave the European Union, at the Elysee Palace in Paris, France

"If the status quo is our only response, it won't be the only exit from the EU," he added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.