ECB's Visco says they are ready to use all instruments at its disposal

Italy's Visco says they are ready to contain monetary, financial and economic consequences from the Greek crisis

• Direct economic and financial effects from Greece likely to be modest
• Will be more serious if it rekindles market fears that euro is not irreversible
• If markets fear euro not irreversible, coordinated action will be essential from national and European authorities
• So far Greek crisis has not significantly weakened QE program
• ECB is determined to fully complete it
• ECB will strongly counter and undesired tightening of monetary conditions
• ECB can only continue to support Greece is there is a clear prospect of a political deal on a program

Strong words from Visco and the euro is ticking up on the headlines