ECB braces for big impact if trade threats materialize: Draghi

(Reuters) – The euro zone should be preparing for a big hit if the protectionist measures announced by the United States and China are implemented, the head of the European Central Bank said on Monday.

“For the time being, we don’t know what the final size of all this will, be but we know it’s going to be big and we should do our best to be prepared,” Mario Draghi told the EU Parliament in Brussels.

“It’s going to be big if it’s implemented – what has been announced, and what may follow later on.”

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