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9/21/11

Europe is 'fragile, but fixable' - by Gordon Isfeld

Bank of Canada governor Mark Carney said Tuesday the economic deterioration in Europe is "fragile, but fixable" and that he does not expect the United States to fall back into recession "although the risk has clearly risen."

In a speech to the Board of Trade in Saint John, N.B, Carney also called on European leaders to come up with a "comprehensive" plan to backstop the region's banks and restore investors' confidence.
His comments came on the same day as the International Monetary Fund cut economic growth outlook for Canada and the world.

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