European Debt Crisis
Never before has the financial distress of a few million attracted such global attention. From bank executives to finance ministers, the financial future of Greece and its place in the European Union is being discussed across boardrooms and kitchen tables.
Canada's overall numbers are not as impressive, but they reflect the growth rotation that will see exports and business investment grab the baton from the consumer and housing sectors. Conditions already favour export growth: a weakening loonie, a surge in leading sectors, a key export market that is leading the way, and strong demand for resources.
At the IMF and World Bank Group annual meetings in Tokyo, the European economic crisis was never off the agenda and often took centre stage in panel discussions. In the streets of Athens, Madrid, and in cities of other fiscal adjusting European states, there is a real belief that this new economic reality will result in a lost generation.
The G8 Summit was oddly clarifying: With Europe riven with divisions over the euro and the sclerosis of welfare states in aging societies, the United States wrapped up in increasingly parochial domestic politics, Japan adrift and Russia backsliding into authoritarianism, Canada stood alone as a country with healthy economic prospects and a stable government.
WASHINGTON - Financial markets will likely stumble this week after elections in Greece and France cast a pall of uncertainty
WASHINGTON - Canada is far from isolated on the world stage in its resistance to commit more money to the International Monetary
Europe looks increasingly like it is stirring, like the awakening Brunhilda, from its torpor, and could gradually, tentatively, take up the aptitudes of intercontinental leadership of olden time. For America, it may indeed be time to learn something from Europe, but not the Europe whose emulation Barack Obama was urging four years ago.
Representatives from the world's leading economies, known as the G20, have finished their meeting in Mexico City with no
MEXICO CITY - Pressure mounted on Europe Saturday to build an even bigger financial stabilization fund to head off sovereign
With the release of the latest growth projections from the Bank of Canada and the International Monetary Fund (IMF), it appears that Canada's two-year run at the top of the G7 group of countries could be coming to an end. Both the Bank of Canada and the IMF have lowered this year's growth predictions, paving the way for - get this - America to take over the top spot.