Ottawa, October 27, 1997
1997-093

Finance Minister Comments on Markets

Finance Minister Paul Martin issued the following statement with respect to today's developments in Canadian financial markets:

"During the course of the day North American equity markets declined. Trading and settlement mechanisms and market safety measures all worked well.

We are monitoring the situation, and remain in contact with the Bank of Canada, market officials and the U.S. Treasury.

As I noted earlier today, the Canadian economy is in a position of strength, with sound economic fundamentals and the best fiscal health of the G-7.

I feel very good about the Canadian situation and, indeed, about the North American situation."

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For further information:

Nathalie Gauthier
Press Secretary
(613) 996-7861