Posts Tagged ‘US financial crisis’
Canada may miss deficit elimination target: Flaherty
Liberal-NDP-Bloc coalition a political threat to economic recovery: Flaherty
Conservative finance minister Jim Flaherty says a potential election and the spectre of an opposition coalition government pose a political risk to the economic recovery.
Under an Ignatief-NDP-Bloc Québécois government, nothing would be safe. No part of our economy would be spared. No taxpayer would avoid the hit.
- Jim Flaherty
Paul Martin calls for binding global financial regulations, limits to national sovereignty
Former Prime Minister Paul Martin advocated binding global financial regulations and limits to national sovereignty in a speech to the Empire Club and Canadian Club in Toronto.
A voluntary process of global coordination will lead nowhere. In short, if there is anybody who thinks that the voluntary subscription to global standards will be sufficient, then I’d like to introduce them to the tooth fairy.
- Paul Martin
Related Videos:
- Stephen Harper’s ‘enlightened sovereignty’ and humanitarian agenda (January 28, 2010)
- Prime Minister sets five priorities for G20 summit in Toronto (March 18, 2010)
Completely free markets are unstable: Harper
Stephen Harper says the G-20 has become the steering committee for the global economy, and that such global governance is required to prevent instability created by the free market.
A completely unregulated, ungoverned market, a market without governance, is unstable. And to the extent we now have a truly globalized economy, we need some semblance of a global governance …
We’re not talking about world government. I don’t think anybody is going to come in and say we’re prepared to surrender our sovereignty to the G-20 or some other body. But what they are going to say, in practice, is that we have to coordinate our policies to create stability for all of us.
- Prime Minister Stephen Harper
Harper defends Keynesian response to recession
Stephen Harper defended his government’s economic stimulus package in response to a recent Fraser Institute report claiming the stimulus had no effect on GDP.
We’re not going to act on the basis of ideology, we’re going to act on the basis of what the economy needs. And that is what we have done.
- Stephen Harper
Related Links:
Stephen Harper’s ‘enlightened sovereignty’ and humanitarian agenda
Canadian Prime Minister Stephen Harper urged nations to practice “enlightened sovereignty” in his keynote speech to the 2010 Wold Economic Forum in Davos, Switzerland.
Notions rooted in a narrow view of sovereignty and national self interest must be reconsidered. We cannot do business as though for one to have more, another must have less. That is not true, it is not just, and it cannot be the path we take.
Our ambition … must be a shared belief that the rising tide of recovery must lift all boats, not just some. This is the exercise of soverignty at its most enlightened.
- Stephen Harper
Related links:
- Stephen Harpers article in the Toronto Star: G8 agenda: Focus on human welfare
- Full video: Stephen Harper’s keynote address at the 2010 World Economic Forum
The G20 saved the global economy: Harper
Stephen Harper says cooperation among the G20 economies was instrumental in averting an economic disaster as the worst of the global financial crisis seems to have passed.
If these measures are enacted and we continue to move forward with the G20 process, we will have the kind of global governance that is necessary to ensure the stability and transparency of markets, in a way that gives us the benefits of a globalized market economy without the enormous risks that we have experienced the last few years.
- Stephen Harper
Harper urges Obama for ‘Buy American’ exemption
September 16 and 17, 2009 - Stephen Harper delivers an anti-protectionist message at meetings with President Obama in Washington and business leaders in New York.
We know that a dynamic market economy does require governance. Now we’re not going to create a world government, but we do have to have the countries of the world come together and look at global problems together, and look at the global economy as a system.
We have to start to look at things … from a more enlightened view of our national interest that understands that if we don’t think globally, and think about global solutions, if we all simply work on national solutions, we are going to continue to have these kinds of problems.
- Stephen Harper
Flaherty projects deficits until 2015 as economic recovery takes hold
Finance Minister Jim Flaherty says Canada will run deficits until budget year 2014/15, two years longer than originally projected.
Opposition parties say Flaherty is incompetent and cannot be trusted. Liberals promise their alternative plan will be unveiled during the next election.
Links:
Government defends $50 billion deficit
May 26 to 28, 2009 - Finance Minister Jim Flaherty says Canada’s 2009/10 budget deficit will grow to over $50 billion, about 50% higher than the $34 billion deficit projected in January.
Liberals demanded Flaherty’s resignation for ‘gross incompetence’.
The government defended its deficit, saying it is necessary during a recession and affordable given Canada’s favourable fiscal position relative to other leading economies.
Links:
- The Economist: How indebted rich countries will be in 2014
