Euro Uh Oh O Canada!

[RWGR]

While the odds still remain low, it's now possible to envision a messy eurozone exit for Greece that would plunge Canada into a severe recession.

This, at least, is the conclusion of a new analysis carried out by a team of analysts under TD Bank chief economist Craig Alexander.

It stresses that the danger of a catastrophic outcome is still quite small, but points out that political paralysis in Greece and a continued failure of European leaders to create a robust rescue plan for the region's financial system, now make it possible that Europe will spark a new global recession.

And here's a wake-up call for Canadians: if we do see such an event, Canada is likely to feel it more painfully than the U.S., which is the opposite of what happened in the last recession.

http://www.canada.com/business/Canad...422/story.html

[Hans]

Why?

[Soundbear]

How funny is that?? Re the USA:

"It's not that the U.S. would be invulnerable. But housing prices south of the border are already very low, so this all-important part of household wealth is no longer vulnerable. After all, it doesn't hurt much if you fall out of a basement window."

[RWGR]

Hey, I just thought you guys would be thrilled Canada actually made the news for something than other than an RCMP officer rescuing a trapped moose or your national hockey team losing yet another tournament.

Let's face it, Canada ain't exactly interesting

[Soundbear]

True, you're the one living in interesting times.

We'd just as soon remain dull, thanks very much!!!

[The Handyman]

I see you moved your outhouse again, .....

[RWGR]

We'd just as soon remain dull, thanks very much!!!

Well, you are doing a fantastic job...amazing job!

[The Handyman]

BTW, ... now that school is out, .... when are we going to have that beer at the Country Club? I'll buy the first round, .... I'm playing Tuesday, ... will be done around 1:00 PM.

[RWGR]

The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-ridden continent.

Richard Ward said the London market had put in place a contingency plan to switch euro underwriting to multi-currency settlement if Greece abandoned the euro.

In an interview with The Sunday Telegraph he also revealed that Lloyd's could have to take writedowns on its £58.9bn investment portfolio if the eurozone collapses.

http://www.telegraph.co.uk/finance/f...-collapse.html

Lloyd's of London?!?! What do they know???

Don't they read the Soonet Econ section???

[RWGR]

[Soundbear]

"...the odds remain low" ????

[official soonet pu$$ycat]

How come he was banned now?

[Soundbear]

How come he was banned now?

I dunno. Maybe he reached his limit. Again.

[stupefied]

How come he was banned now?

He's American? He's Catholic? Mod(s) don't like him? God's will?

[The Handyman]

How come he was banned now?

I dunno. Maybe he reached his limit. Again.

He's American? He's Catholic? Mod(s) don't like him? God's will?

There goes my beer with him at the Country Club, .....

[official soonet pu$$ycat]

He's American? He's Catholic? Mod(s) don't like him? God's will?

Perhaps all of the above. Kinda like a perfect storm.