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Article: Canadian bank system gets the balance right
- Article from:
- The Irish Times
- Article date:
- July 3, 2009
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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Once considered boring for its fiscal conservatism, Canada has
emerged as a model of stability, writes SIMON CARSWELL , Finance
Correspondent, in Toronto
THE US may have aspired to be a city on a hill, but its neighbour
Canada has attracted more attention recently as a paradigm for
creating and regulating a banking system that has been stable, and
even profitable, through the worst economic crisis since the Great
Depression.
Praise has come from many quarters, including Taoiseach Brian
Cowen who has promised to create a new regulator that will "build on
best international practice, similar to the Canadian model".
Canada's reputation for fiscal conservatism may have been boring
during boom ...