that may follow the Brexit vote in the coming weeks and months, the vice president of the EU executive said on Thursday.
After the British referendum on June 23, “the European Commission, the European Central Bank, other central banks and all relevant authorities continue to cooperate closely to ensure an appropriate response to whatever turbulence there might be in markets,” Valdis Dombrovskis, who is in charge of the euro at the European Commission, told a conference in Brussels.
European Commission Vice-President Valdis Dombrovskis talks during a news conference after a meeting in Brussels, Belgium, May 18, 2016. REUTERS/Eric Vidal
He added that at the moment is too early to predict Brexit’s economic impact on the euro zone.
Dombrovskis will be responsible for financial services at the European Commission from mid-July after the resignation last week of the British commissioner Jonathan Hill, following Brexit.
The European Commission does not expect any new countries to join the euro zone for at least the next three years, one of the vice presidents of the EU executive said on Thursday.
“There is not going to be euro area enlargement in the next at least three years,” Valdis Dombrovskis, who is in charge of the euro at the European Commission, told a conference after being asked whether Brexit might lead to euro zone expansion.
Currently, 19 countries are members of the single currency union, out of 28 members of the European Union. The EU will shrink to 27 countries once Britain has concluded the process to leave the bloc.
The Brexit vote prompted reactions from a number of markets worldwide. Asian markets tumbled in response, as well as US Markets. There has been a rebound in international markets since the vote earlier in June.
(BRUSSELS (Reuters) – Reporting by Francesco Guarascio; Editing by Alissa de Carbonnel)
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