ECB's Makhlouf warns uncertainty will persist even if trade war passes

DUBLIN, May 13 (Reuters) - Uncertainty in the global economy is likely to persist even if a global trade war proves short-lived, European Central Bank governing council member Gabriel Makhlouf said in a speech on Tuesday.

"Even if a full-blown trade war turns out to be short-lived, the uncertainty effects will persist for some time," said Makhlouf, the governor of the Irish Central Bank.

"Amplification risks from elevated public and private debt levels, and how these might ripple through the financial system, are a further downside risk."