Brexit will have 'significant effect' on EMU

Pierre Moscovici, European Commissioner, said on BBG TV  that the UK vote on leaving the European Union will have a 'sginifcant effect' on the economy of the euro bloc.

Moscovisi sees a delay of Brexit effects on the UK economy, while he expects a slowdown in UK investment, albeit lower than initially estimated.

He added that would be 'unrealistic' to speculate on Brexit talks outcome.

Previously he emphasized that would be 'suicide' if France leaves the euro area.