Greek Default Less of a Threat to Canada
Economic News

Greek Default Less of a Threat to Canada

Greece is becoming that annoying relative that just won’t go away. You know the cousin that comes to stay for a few weeks until they “get on their feet.” But months later you’re still waiting for the bathroom in the morning because they’re in the shower. Greece is Germany’s destitute cousin and German Chancellor Angela Merkel must have real patience to wait day after day to see if all the efforts to help her poor cousin Greece will pay off. Continue reading »

Greek Debt Part 2: Canada May Not Be As Lucky This Time
Economic News

Greek Debt Part 2: Canada May Not Be As Lucky This Time

For the second time in 12 months the Greek debt crisis is threatening to derail the already shaky global economic recovery. The country is close to default again and they want the core European countries, France and Germany, to bail them out, again. Last year Canada emerged unscathed, but this year, Finance Minister Jim Flaherty is saying our nation faces a “real danger” of contagion. If Greece defaults, Flaherty’s biggest concern is Canada’s banking system could be damaged by the ripple affects. Continue reading »