Jim Flaherty says Canada is ready for fallout


First up Tuesday morning, Jim Flaherty says he’ll be on the phone with his Group of Seven counterparts to discuss worsening conditions in the eurozone.

Just try to keep the panic on hold.

The finance minister says Canada’s “fundamentals are sound,” and it is ready and able to respond to economic fallout.

“If we needed to take steps in response to a shock from outside Canada . . . we are in a position to do so because we have fiscal room to move,” he told reporters.

“Our situation is imperfect but it’s better. We are in a position to act to protect Canada, but we’re part of the world and we would get buffeted as well as other countries.”

The Canadian Press says Flaherty boasted of another advantage: “We have a government that can act . . .These continue to be sensitive times. We’re not out of the woods yet.”

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Jim Flaherty says Canada is ready for fallout

  1. Yes, but since we seem to have decided that outsourcing our Sovereignty is a good idea (FBI, EPA) what happens when the foreign entities get THEIR funding cut?

    • So predictable…..sigh

      “Imagine the reverse, with Canadian officials deciding that they weren’t up to conducting an investigation on Canadian soil because of credible fears of bias and faulty conclusions. So they ask an American federal agency to come into Canada and take the lead role — not just technical support, which is common, but the point position. Imagine how the press would respond, how the opposition parties would thunder in parliament. It’s doubtful that the Canadian bureaucrat would even ask, knowing that the seemingly simple way out of a tricky problem would blow up into yet another national episode of freaking out about our sovereignty.”


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