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Canada rated as the world’s soundest banking system.

By
Real Estate Agent with Century 21 Miller

For those of us concerned about how the much publicized American financial meltdown will permeate north of the border, we should all take some relief in knowing that a World Economic Forum Report on global competitiveness has rated Canada's banking system as the soundest system in the world.

These statistics were released to quell the panic due to the global financial crisis and bank failures. To help rectify the situation, halt panic selling and to restore some trust in world banking systems, central banks in Europe, the UK, the United States, China, Canada, Sweden, and Switzerland have slashed interest rates.

Canada scored a world high 6.8 points out of a possible 7 points. Sweden, Luxembourg, Austria and Denmark scored close behind at 6.7. The well documented crisis in the U.S. has them ranked 40th, just behind Estonia, Barbados, and Namibia.

Although our two countries are close geographically and it would be naïve to report we weren't linked economically, it is important for Canadians to understand that we have financial systems in place to prevent the crisis that has paralyzed the U.S.

Comments (3)

Bill Kennedy
Keller Williams Greenville Upstate - Greenville, SC
Homes For Sale Greenville SC

Welcome to Active Rain! This is a great website for building your business, as well as learning from others.  Pat yourself on the back, because you made a GREAT choice in joining the blogosphere!

Write often, and write whatever comes to mind.  Blogs about personal topics and non-real estate items are often the best.  It helps your readers to bond with you, and ends up bringing you a lot of business!

Good luck with your future blogging.  If you'd like more info on points in Active Rain, I wrote a blog about it (click here). Feel free to ask me any questions if you need a hand!

Oct 10, 2008 03:50 PM
P G
Charlottesville Solutions - Charlottesville, VA

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Oct 11, 2008 03:25 AM
Larry Estabrooks
Independent Real Estate Agent - Moncton, NB
100% representation means NEVER DUAL AGENCY !

Hello Sean and welcome to Active Rain.

Since you're in Canada, I'm inviting you to join an active|rain group, one comprised of your fellow Canadian REALTORS® who are also blogging on Active|Rain , the Canada, eh group - http://activerain.com/groups/Canada. When I log in on ActiveRain.com, I always check the Canada, eh group first to read the Canadian perspective since Canadian bloggers are so much easier to find on the group home page. And please include any of your posts with a Canadian angle by also posting them to the group. (although please no "property for sale" postings),

Should you decide to join the Canadians, then let me say "Welcome!"
Larry, group founder and moderator, Moncton, New Brunswick

Oct 14, 2008 11:45 AM