ECB's Nowotny: US economy could be without orientation for a while

In an interview to Der Standard, an Austrian national daily, ECB's Nowotny said that uncertainties over US measures are worrying and that the US economy could be without orientation for a while. If the US expands deficit to boost growth it could lead to higher long-term interest rates in Europe. 

Talking about Breixt, Nowotny was noted saying that Brexit has been underestimated and many negative surprises could arise. He, however, does not expect extension of negotiation time frame.

He further added that EU financial institutions wanting to operate in EU must have seat, supervision in EU.