ECB’s Noyer says Grexit risk has subsided

PARIS The prospect of Greece being forced to leave the euro zone has lifted, ECB governing council member Christian Noyer said in an interview with Le Monde newspaper published on Friday.

Noyer, who is also governor of the Bank of France, said that Greece represented “next to zero” risk of contagion for foreign banks as they had largely reduced their exposure to the massively indebted country.

Asked whether the risk of Greece’s exit from the euro zone had receded, Noyer said: “Yes, I believe so.”

(Reporting by Leigh Thomas– Editing by James Regan)