European Central Bank

AP Interview: ECB official plays down Brexit hit to eurozone

Britain's exit from the European Union single market would not hurt the continent's eurozone economies as much as initially expected, and it will be Britain that suffers most, European Central Bank official Yannis Stournaras said Friday.

As Britain and the EU, of which 19 countries are in the eurozone, prepare to enter heated discussions on how to set up new trade relations, Stournaras' comments suggested the eurozone would be in a stronger position to weather the uncertainty.

"Negotiations will not be easy," Stournaras, who is also the governor of the Bank of Greece, told The Associated Press in an interview. "But it seems that the effect on the euro...