ECB’s Cipollone Says Uncertainty May Increase, Hitting Recovery

European Central Bank Executive Board member Piero Cipollone warned that global turbulence could hit the euro area, according to an interview in El Pais.

“Uncertainty may rise and this could affect the robustness of the recovery, since it would pose a risk to investment,” he told the Spanish paper, according to a transcript on the ECB’s website. “This could have an impact, particularly on growth, and inflation would clearly be affected. If this uncertainty drags on, it will have an impact on the real economy.”