As world leaders sit down at the G-8 and G. 20 meetings they can excuse themselves for salivating over Canada’s economic position. Suddenly the land of doughnuts and hockey has become the example to the world when it comes to economic stability. Leaders from the United States to Europe are trying to emulate Canada’s example. While the sick man of Europe and Greece does its best impression of Oliver Twist having its hand out for more. Meanwhile, Canada is the reigning guru of economic reform that clearly stands head and shoulders above the rest.
“We should be proud of the performance of our financial system during the crisis,” said Finance Minister Jim Flaherty
But it is recovering from the recession faster than others, and although its deficit is currently at a record high, the International Monetary Fund expects Canada to be the only one of the seven major industrialized democracies to return to surplus by 2015.
