March 13, 2019 / 6:07 PM / in 5 months

Italy is not a threat for Europe, ECB's Coeure says

MILAN, March 13 (Reuters) - Italy is not a threat for Europe but it faces a technical recession and its challenge is longer-term growth, ECB board member Benoit Coeure said on Wednesday.

Speaking at an event in Milan, Coeure added that the financial sector was well prepared for risks stemming from Britain’s planned exit from the European Union in all areas except for clearance.

Reporting by Elvira Pollina, writing by Agnieszka Flak; editing by Crispian Balmer

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