View Full Version : More Government

12-21-2008, 09:11 PM
"The Canadian government agreed to help backstop a C$32 billion ($26.2 billion) restructuring plan for insolvent commercial paper, increasing the likelihood that the debt swap will be completed after 16 months of negotiations.

The federal government, along with the provinces of Ontario and Quebec, will provide financial guarantees to support the restructuring plan, Finance Minister Jim Flaherty said in a statement today on the departmentís Web site. The province of Alberta also agreed to provide support."