Investing.com - Financial Markets Worldwide

SNB Determined To Shake Up Markets

ByThe National Bank of Canada
Published 01/27/2015, 09:10 AM
Updated 05/14/2017, 06:45 AM
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The election of the Syriza party in Greece on Sunday after promising to restructure the country's sovereign debt continues to be a hot topic, as pundits wonder what other EU member nations are prepared to accept. True to its nature, Germany has given us a hint through its finance minister, who stated that the situation in Greece was not a result of decisions by the EU, but rather decades of failure on the part of Greek officials. In short, although the EUR appears to have stabilized for the moment, it's highly likely that negotiations will be heated.Also in Europe, the Swiss National Bank appears determined to shake up markets, stating this morning that there were limits on how far it would let the franc rise. Threats that it would take action again in order to weaken the country's currency had some measure of success in bringing it down against the euro.Closer to home, Canadian Finance Minister Joe Oliver stated that he intends to balance the budget despite the current context. In his opinion, Canada will be one of the G7's standout performers. Range of the day: 1.2420 - 1.2550

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