Sep 26, 11:23 AM EDT

The president of the European Central Bank says that both markets and the economy have been "resilient" in the wake of Britain's vote to leave the European Union


Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Why the US economy isn't quite the weakling that Trump complains it is

The French government is presenting its 2017 budget, including 1 billion euros ($1.1 billion) in tax cuts that are expected to benefit 5 million low and middle-income households

A closely watched survey shows German consumer confidence has dropped slightly as Brexit fears and terror threats have dampened the mood

The Asian Development Bank says the economies of developing countries in Asia are holding up despite stubborn global headwinds, and that earlier forecasts that the countries as a group will grow 5.7 percent in 2016 and 2017 remain unchanged

Turkish financial markets have taken a battering after ratings agency Moody's downgraded the country's credit grade to junk status to account for a series of shocks to the economy that included a string of bombings and an attempted coup

The president of the European Central Bank says that both markets and the economy have been "resilient" in the wake of Britain's vote to leave the European Union

Business leaders in Britain are reacting with unease in the months following Britain's decision to leave the European Union

Egypt has lifted a ban on even trace amounts of fungus in its wheat imports, after sellers enraged by Cairo's demands boycotted tenders, threatening the supply of the world's largest importer of the grain

Bank of Japan sets higher inflation goal to revive economy

Life has become exceedingly hard in Suriname, where the economy has been in freefall amid the collapse of global commodity prices and the slide of the local currency relative to the U.S. dollar

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

FRANKFURT, Germany (AP) -- The president of the European Central Bank says both markets and the economy have been "resilient" in the wake of Britain's vote to leave the European Union.

But Mario Draghi cautioned members of the European Parliament in Brussels on Monday that the long-term effects of the breakup "will be much more difficult to foresee."

Draghi says much will depend on how long it takes Britain to negotiate a new relationship with the bloc that covers future trade conditions and other matters.

He added that "the longer the uncertainty about the outcome lasts, the more relevant the consequences will be."

The EU treaty gives Britain two years after giving notice of its departure to work out a new deal. The British government has said it won't give notice until next year.

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.