-Markets and Investors Need Be Given Clear, Credible Plan
-Canada Growth ‘Hesitating’ But On Track Balance Budget Medium Term
By Courtney Tower
OTTAWA (MNI) – Canadian Finance Minister Jim Flaherty Thursday
night said Europe and the United States need to show the financial world
that they have clear and credible plans for resolving the debt and
banking problems in the eurozone and the deficit problems in the United
States.
Flaherty, in a conference call with Canadian reporters from the
annual meetings of the International Monetary Fund and the World Bank in
Tokyo, put the two situations together.
He said he had encouraged European nations “to take further action”
on their problems, and that the United States “needs to take further
steps to get its house in order.”
“It is important that they show markets and investors that they
have a clear, credible plan going forward,” he said.
Flaherty said the two situations were having an impact on slower
growth everywhere as reported by the IMF earlier this week. Europe had
taken significant steps ahead recently but “much more needs to be done.”
On the U.S., he said nothing would move the “political gridlock”
occurring there before the November elections.
“We are all concerned with the fact that world growth is slowing,”
Flaherty said.
Canadian growth is “hesitating,” Flaherty said, but the economy
remains “on track for a balanced budget in the medium term.”
He said the suggestion by IMF chief Christine Lagarde that eurozone
nations be given extended time to reach solutions was worth being given
consideration.
** MNI – Ottawa**
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