For the past 2 weeks and we will see this continual “uncertainty” loom in Europe regarding Cyprus. The topic for all “western nations”… ‘ how safe is our banking institutions? ‘. In Canada the topic circulates about the Cyprus News and is pondered by many analysts and businesses. Cyprus Newspapers along with European news media providing the reality in this current dilemna. Although alot of countries are affected by the current turmoil in Cyprus due to ‘offshore’ business operations…Canada remains the leader in “fiscal restraint and regulation”….as well a leader in Fiscal Responsibility.
Canadian banks pride themselves on their banking system…”austerity” has reached Canadian shores…and talks of “bailout” restrictions are spreading through the news along with the Us Fiscal Cliff. In today’s world of globalization…every country has it’s “pitfalls” to monitor..the question is…which major ‘western nation’ is next for the new “bank depositor” restrictions implemented by the ECB??