Greece contagion fears unfounded: ECB’s Nowotny

PRINCETON, New Jersey (BestGrowthStock) – Fears that Greece’s problems could spread to other euro zone countries are “unfounded” despite a downgrade of Portugal’s credit ratings, European Central Bank Governing Council member Ewald Nowotny said on Tuesday.

“Looking at economic fundamentals, especially the debt situations, one has to see that there are clear differences between Greece and other countries of the eurozone,” Nowotny told Reuters after a lecture at Princeton University.

“So, economically, contagion is unfounded,” he added.

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(Reporting by Walter Brandimarte, Editing by Chizu Nomiyama)

Greece contagion fears unfounded: ECB’s Nowotny