Euro zone financial sector recovering from turbulence: ECB's Nagel

The euro zone financial system is recovering from last week's volatility and the European Central Bank is ready to provide all the support needed should a liquidity squeeze develop, Bundesbank President Joachim Nagel said on Wednesday.

"There was a lot of uncertainty last week (around banks). We are much better today and will see how the next weeks are going," Nagel said.

"This is not a financial crisis what we had last week," he added.