The European Central Bank Governing Council Member Ewald Nowotny said in an interview to CNBC on Monday that he does not expect an agreement between Greece and its creditors will be signed this week. He added that the Greek exit from the Eurozone would not have the same impact on the Eurozone as it would have had two years ago.

Nowotny pointed out that a lower euro is not the target of the central bank's quantitative easing.