FT: Brexit will give more freedom to EU implement reforms

                    

São Paulo - The managing director of the International Monetary Fund (IMF), Christine Lagarde, said today that the movement of UK separation and the European Union (Brexit) will give more freedom to the block to implement reforms and projects that the British opposed in the past, according to the Financial Times.

In an optimistic tone, Lagarde had also said that the Kingdom will come out of the crisis "at the top". The comments were made at a business conference in Aix-en-Provence in southern France.

Recently, the IMF warned that Brexit could trigger a "prolonged period of uncertainty." But Lagarde's view, "They may have things that commissioners could consider doing, now that the British are not at the negotiating table."

Earlier, the member of the Executive Board of the European Central Bank (ECB), Benoît Coeuré said it was too early to decide on how to respond to the United Kingdom's decision to leave the EU, given the current economic and political uncertainty.

The comments indicate that the ECB will wait a while to assess how banks and firms in the euro area are reacting to the shock before taking any additional stimulus measures. Economists speculated that the ECB could act already in September to strengthen the bloc economy.

"There are things we can do, but it is too early to decide whether the Brexit asks central bank action," Coeuré said.

The surprise at the outcome of the referendum resulted in declines in global stock markets, with the roles of European banks under particular pressure. The pound has fallen against the dollar and other currencies, and the euro also lost ground.