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Canadian banks the soundest in the world
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by djstreet | October 9, 2008 at 10:48 am
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Despite the election push by Liberal and NDP parties touting imminent collapse of the Canadian financial sector, the World Economic Forum has released a report that pits Canada's banking system as the safest in the world.
Twelve-thousand corporate executives around the world were interviewed on a number of questions and ranked banks around the world on a scale of one to seven -- one being insolvent and possibly in need of government assistance and seven being entirely healthy.
The top 10 soundest countries are as follows:
- Canada (6.8)
- Sweden (6.7)
- Luxembourg (6.7)
- Australia (6.7)
- Denmark (6.7)
- Netherlands (6.7)
- Belgium (6.6)
- New Zealand (6.6)
- Ireland (6.6)
- Malta (6.6)
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Most RecentMost Recommended Comments (3)
at 11:20 on October 9th, 2008
The two are not directly correlated. Right now the depreciation of the Canadian dollar is probably reflective of less demand for the CDN dollar in relation to the USD.
at 18:09 on October 9th, 2008
It is a function of the price of oil (Canada has the 3rd largest oil reserves in the world) and commodity prices (of which we are abundantly supplied as well). When demand for these things goes down so does demand for the currency with which you purchase them.
at 18:11 on October 9th, 2008
Where is the source? I am curious where the US is on the chart these days.