The Eurozone’s single currency fell to its lowest value in nearly a decade today amid suggestions that the European Central Bank (ECB) may resort to quantitative easing.
The Euro tumbled to a value of just $1.1860 before the markets opened this morning – its lowest point since 2006.
Fears over the currency’s future were exacerbated by an article in Germany’s Der Spiegel newspaper, which claimed that Germany was preparing for Greece to leave the common currency. The anti-austerity party Syriza has soared in popularity this month – if it wins the election, this could undermine existing bailout agreements and strengthen arguments for the country to abandon the Euro.
ECB chief Mario Draghi has refused to rule out the threat of euro deflation, warning that “we have to act against such risk.” Many have seen this as a sign that the central bank will follow the lead of the UK, US and Japan by buying up government bonds, adopting a policy of quantitative easing.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Chicago based Treasury Management System (TMS) vendor GTreasury and Sydney based risk and treasury management vendor Visual Risk have joined forces in a strategic alliance to ... read more
"Uncertainty is the enemy of deal-making", so it's no surprise that Europe and the Asia Pacific's insurance industry saw merger and acquisition deals fall in the first half of 2017.
One in five countries is set to hit their highest government debt levels in 17 years predicts Fitch, although there has still been a dramatic improvement in sovereign credit.