According to Constancio, the referendum in Greece is important for analysis and decisions made by the ECB. It will affect the probability of reaching an agreement between Greece and other euro area countries. If Greeks vote for the proposals of international creditors, then the probability of agreement will increase.
The vice-president of the ECB did not speculate on the fate of Greece if the sides fail to achieve a solution. He just said the situation would become complicated and Greece's banks would become even weaker.
"It is difficult to say how the markets will react if an agreement is not reached, and this is important when talking about consequences to Greece," said Constancio.
