Stock Groups

Evergrande debt problems not just a local issue

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Chairman of the Swiss National Bank (SNB), Thomas Jordan, Bern, Switzerland. June 17, 2021. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – The Swiss National Bank is closely monitoring the situation at China’s Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns that its debt problems could pose risks to China’s financial system.

Jordan said that it was wrong to alarmize, but also to dismiss the problem as small and local. He spoke to journalists during a phone call to discuss potential consequences for Switzerland.

Jordan said, “We’ve seen it time and again” that small events can suddenly upset the financial markets and lead to major corrections. We will be following this closely, as other central banks do.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are instead provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]