ECB's Nowotny plays down risk of Greece contagion

"You see that this (Greek) risk is seen as isolated and in contrast to earlier times there is no connection between developments in Greece and developments elsewhere" in Europe, he told a news conference on the Austrian central bank's annual report when discussing sovereign bond yields.

"This is certainly an improvement, a stabilisation of the overall European landscape."

(Reporting by Michael Shields and Angelika Gruber; Editing by Toby Chopra)