EU Commission Ready To Respond To Post-Brexit Market Turmoil

Brussels: The European Commission stands ready to cooperate with central banks and other authorities to quell market turbulences that may follow the Brexit vote in the coming weeks and months, the vice president of the EU executive said today.

After the British referendum on June 23, "the European Commission, the European Central Bank, other central banks and all relevant authorities continue to cooperate closely to ensure an appropriate response to whatever turbulence there might be in markets," Valdis Dombrovskis, who is in charge of the euro at the European Commission, told a conference in Brussels.

He added that at the moment is too early to predict Brexit's economic impact on the euro zone.

Dombrovskis will be responsible for financial services at the European Commission from mid-July after the resignation last week of the British commissioner Jonathan Hill, following Brexit.