“For the euro zone, the Brexit constellation is something we look at,” Nowotny told an event in Zurich just before news of Johnson’s exit. “It is mainly a risk for the U.K. but it also poses risks and uncertainties for the euro zone.” Other potential problems included looming trade wars along with constraints on economic capacity which could lead to slower growth, he said. The ECB expects euro zone economic growth of 2.1 percent this year, easing to 1.9 percent in 2019 and a 1.7 percent rate in 2020. “These lower growth rates do not mean an end to the good times,” Nowotny said. “It means we have reached a plateau and can grow with capacity growth.”