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Old 09-23-2011, 07:19 AM
Location: Vancouver, B.C., Canada
11,022 posts, read 24,631,244 times
Reputation: 5380


Canada’s relative financial strength has given Mr. Harper a bullhorn on the world stage. If anything, Mr. Cameron is cozying up to his Canadian counterpart, as he tries to effect change in the Eurozone, where 40% of Britain’s exports end up.

The two Conservatives, along with leaders from Australia, Mexico, Indonesia and South Korea, have penned an open letter to French president Nicholas Sarkozy, who will chair the G-20 meeting in Cannes in November, calling for strong action on debt reduction and renewed efforts to boost world trade.
“Without key countries taking systemically appropriate and coordinated economic measures, without resistance to protectionism and acceptance of more flexible exchange rates, without fiscal consolidation [and] without a commitment by governments to cut rising deficits and reduce what are, in some cases, dangerous levels of national indebtedness – without things such as these, we will not avoid a recession,” Mr. Harper said in his speech in the House of Commons. Talking to reporters, he said “uncertainty is getting to dangerous levels.”

In his remarks, the British Prime Minister identified the problem as a “debt crisis.” He urged action to kick-start world trade through the Doha development round and said, if no agreement could be reached in Cannes, it may be possible for a “coalition of the willing” — countries like Canada and the U.K. – to forge ahead with deals of their own.
John Ivison: Economy means Canada no longer Britain’s junior partner | World Politics | Full Comment | National Post

wow the EU sounds really bad and we are in some really messed up times
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Old 09-23-2011, 08:08 AM
Location: Londonderry, NH
41,478 posts, read 53,947,014 times
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One of the ways to minimize the drag of debt is to stop paying interest until you can afford it. The bankers will fuss but if you owe enough you own them not they own you. The Eurozone and the rest of the world should tell the IMF to stuff its "austerity" programs and practice a little austerity themselves.
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