Essential to prepare for all Brexit results



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European Central Bank (ECB) President Mario Draghi said that while the financial stability environment in the euro area remained broadly favorable, it has become somewhat more challenging in recent months.

Addressing today's Committee on Finance, Public Expenditure and Reform and Taoiseach, Mario Draghi also said that it was essential to prepare for all possible Brexit results.

The ECB president has played down a recent series of weak economic data, arguing that the broad expansion of the euro zone should continue.

"While some industry-specific data and selected survey results have been a bit weaker than expected, the latest information suggests that broad expansion in the euro area and Ireland should continue," Draghi said.

He also reaffirmed the ECB's plans to close down bond purchases, also known as quantitative easing, by the end of the year and keep rates at a record level, at least until next summer.

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