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Greece can have only minimal effect on euro, ECB's Noyer says
June 8, 2015 / 10:23 PM / 2 years ago

Greece can have only minimal effect on euro, ECB's Noyer says

MONTREAL (Reuters) - Greece can have only a minor influence on the euro, because of the country’s small size and the euro zone’s reforms, European Central Bank governing council member Christian Noyer said on Monday.

Bank of France Governor Christian Noyer attends a conference of central bankers hosted by the Bank of France in Paris in this file photo from November 7, 2014. REUTERS/Charles Platiau/Files

“I do not believe that Greece really can have a serious influence on the use of the euro and its position as an international currency,” Noyer, who is also the governor of the Bank of France, told an economic conference in Montreal. “Greece represents 2 percent of the euro zone economy so it’s really marginal.”

Bank of Canada Senior Deputy Governor Carolyn Wilkins, on a panel with Noyer, said Canada had minimal direct exposure to Greece and did not consider contagion spilling over to Canada from Greece to be a high probability.

Reporting by Randall Palmer and Allison Lampert; Editing by Leslie Adler

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