Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Bank of France head does not expect Evergrande contagion

Published 10/19/2021, 03:29 AM
Updated 10/19/2021, 03:32 AM
© Reuters. FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau attends a news conference at the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 18, 2019.  REUTERS/Pascal Rossignol

LONDON (Reuters) - Francois Villeroy de Galhau, head of the Bank of France and a member of the European Central Bank (ECB), on Tuesday played down concerns that problems for China Evergrande Group could lead to broader contagion.

Asked if Evergrande could spark effects similar to the 2008 collapse of Lehman Brothers, Villeroy told France Info radio that "history is not in the process of being repeated".

© Reuters. FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau attends a news conference at the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 18, 2019.  REUTERS/Pascal Rossignol

"I think that Evergrande is mainly a Chinese problem," he added.

Evergrande last week missed its third round of bond payments in three weeks.

Latest comments

really?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.