Canadian banks the soundest in the world: report
Updated Thu. Oct. 9 2008 1:52 PM ET

CTV.ca News Staff

In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world's soundest banking system.

Placing just behind were Sweden, Luxembourg, Australia and Denmark in the World Economic Forum's Global Competitiveness Report, released on Wednesday in Switzerland.

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.

Canada's banking industry, led by Royal Bank, CIBC, Scotiabank, TD Bank, Bank of Montreal and National Bank, was given a rating of 6.8, the best ranking of any banking system in the world.

   

Guess we're the lucky ones, eh.

   

shhhh.... don't let this out of the bag.... Stephane "chicken-little" Dion and Jack "Kitchen Table" Layton won't have anything left to slam Harper with if this one gets out!

   

i think we covered this how strong banks get 25 billion

   

considering how much our bankds a worth, and what they process per day EACH, 25 bilion is just a drop in the bucket.

   

Actually no we didn't, maybe you could explain it to the rest of us.

   

then why do they need 25 billion drops in the bucket

   

IMO, the 25 bilion was a token to calm investors by showing them that the government was willing to back up the banks... And to help Harper win the election by showing he is willing to make "tough" desicions to fix the economy.

   

if the left wing was in power and the markets tanked worse than the great depression every right wing nut would be blaming them, well i say the conservatives and republicans have destroyed the worlds economy. yes DESTROYED

   

liberals were definitally much better at handling the economy it seems. At the same time Dion, with al his education, looks like a blundering idiot. I don't want that man running my country, which is why i didn' vote Liberal.

Bring on Iggy and I will have a much different opinion. Economic intelligence, social and military support, and a relatively strong leader all add up to one neat package i would have liked to have thrown my support behind in this election.

   

Thats not saying much when most of the worlds banks are in the toilet... being bailed out by poor taxpaying blue collar stiffs who work their asses off to put a little aside..
But speaking of banks,, I quit going to the Bank of Montreal and closed my account..they harrass the crap out of their staff and give them shit if they dont ask the proverbial "do you want fries with that?'" when you go in to cash a cheque or buy a money order.. no crap like that at the Royal Bank

   

Ya, considering this was part of a plan put forward by the G7 I guess all the other nations have jumped on a global band wagon and are conspiring to elect Harper.