Draghi Said to See Brexit Vote Cutting Euro GDP as Much as 0.5% - Bloomberg (FXE) (FXB)

(Updated - June 28, 2016 12:45 PM EDT)

ECB president Mario Draghi said to see Brexit vote cutting Euro GDP as much as 0.5%, according to Bloomberg. Draghi also sees GDP growth reduction over the next three years.

UPDATE - Draghi believes the Brexit-related recession will affect foreign exchange markets and lead to competitive devaluations. The official also said that it is time to address bank vulnerabilities.

Comments come from an EU summit document obtained by Bloomberg.

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