Feb 12 (Reuters) - The biggest risk to the Canadian
economy is the financial health of Europe, particularly France,
Finance Minister Jim Flaherty said on Wednesday, expressing
marked concern about European banks.
Flaherty was speaking at a conference examining the 2014-15
federal budget that he presented the day before, and was asked
what he was most worried about, and where his economic
projections could go wrong.
"Europe. I'm still worried about Europe. I'm particularly
worried about France," Flaherty said. "I think some of the
European banks have not come clean. We still don't know what
their books actually look like, and this is five, six, seven
years into the crisis. And there's going to be some ugliness
there, which will hurt the world economy when it becomes
apparent."
France's banking regulator has for years insisted that the
country's banking system is sound and that its method of
regulation, which includes proprietary balance-sheet tests and
on-the-spot checks, was vindicated by the lack of major bank
failures during the financial crisis.
After euro-zone financial jitters in 2011 highlighted
perceived weaknesses in French bank balance sheets, lenders BNP
Paribas and Societe Generale sped up plans
to sell assets to reinforce their capital strength.
Flaherty has been outspoken in his criticism of the state of
European finances and banks throughout the Great Recession and
its aftermath.
In an interview on Global News' West Block television show
on Sunday he said it was not clear that the French banking
system had "gone through the sort of cleansing it needs to go
through and that the American system has been through and most
of the European banks have been through."
Bank of France Governor Christian Noyer criticized a recent
study on the French banking sector on Wednesday and said there
are no problems with the country's banks.
Also on Wednesday, French Finance Minister Pierre Moscovici
said there was "nothing to fear" from French banks and asset
quality reviews.
Thursday, 13 February 2014
Syria News
Is Obama's Syria Policy Working? Carney Says Yes
Amid bleak assessments of Syria's civil war, ABC's Jonathan Karl presses the White House on its strategy
- … mediator for the U.N.-brokered Syrian peace talks says Russia and the United ..... making much progress." The second Syrian peace conference in Geneva this year ..... 130,000 people have been killed in Syria 's three-year civil war and millions …
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5 Things to Know About Chilly US-Russian Relations
… simply reposted it. SYRIA In the bloody war in Syria , Russia is in Syrian President Bashar al-Assad's ..... end the civil war in Syria are not going well ..... It is not just the Syrians that are responsible … -
Norwegian Charged With Syrian Terror Offenses
… terror offenses allegedly committed in Syria — the first such case in the Scandinavian ..... arrested Friday on his return to Oslo from Syria . The suspect, who was not named ..... relate to actions committed against Syrian government forces and could not be considered … -
No Business Like Snow Business
… OBAMA HAS THE RIGHT POLICY ON SYRIA , CITES 'MODEST' PROGRESS. Despite horrific violence in Syria , the administration has ..... administration has brought Syria 's regime and opposition ..... cities. "Can I say that the Syrian civil war has ended? No … -
Cleric on Trial in Jordan Backs Syria Militants
… fighters should remain in Syria to battle growing Shiite ..... Hezbollah are fighting alongside Syrian President Bashar Assad's troops in the civil war in Syria . Assad belongs to the minority ..... Shiite Islam, while most Syrian rebels are Sunnis. Qatada … -
10 Things to Know for Today
… insurance markets opened last fall that a national monthly enrollment target has been met. 7. HOW U.S. WILL GET RID OF SYRIA 'S CHEMICAL WEAPONS An AP Q&A tells you about the ship, crew and process that will be used to destroy mustard gas and … -
Syrian Airstrikes, Shelling Kill 51 in Aleppo
Syrian activists say 51 people ..... opposition-controlled districts of Aleppo . The Britain-based ..... has been documenting Syria 's conflict since its ..... report on the latest Aleppo casualties on Thursday ..... N. official with Syrian government and opposition … -
The Note's Must-Reads for Thursday, February 13, 2014
… LINK ABC NEWS VIDEO " Obama Signs Executive Order To Raise Minimum Wage In New Federal Contracts " LINK " Is Obama's Syria Policy Working? Carney Says Yes " LINK " Why Doesn't America Have An Ambassador To France? " LINK BOOKMARKS The Note … -
US Ship on Syria Chemical Arms Mission in Spain
… substances that form part of Syria 's chemical weapons program ..... that are being removed from Syria as part of the international ..... electronics that will mix the Syrian chemicals with heated water ..... to remove chemicals from Syria . The destruction process … -
UN Diplomat: Russia Tables Rival Syria Resolution
… a rival U.N. resolution on the humanitarian crisis in Syria to key Security Council members after threatening to veto ..... on a resolution demanding immediate access to all areas of Syria to deliver aid. -
Carney Says Obama Has the Right Policy on Syria , Cites 'Modest' Progress
… Despite horrific violence in Syria , the administration has ..... administration has brought Syria 's regime and opposition ..... cities. "Can I say that the Syrian civil war has ended? No ..... has the "right policy" on Syria . Carney noted that the U … -
Countries With Most Journalists Killed, Jailed
… according to the report: JOURNALISTS KILLED Syria : 28 Iraq: 10 Egypt: 6 Pakistan ..... in India, two in Honduras and two in Syria . JOURNALISTS IMPRISONED Turkey: 40 ..... China: 32 Eritrea: 22 Vietnam: 18 Syria : 12 Azerbaijan: 8 Ethiopia: 7 Egypt … -
Syrian Planes Pound Rebel Town Near Lebanon Border
… foreign fighters from Syria and a U.N. monitored cease-fire in Syria — but the Syrian deputy foreign minister ..... violence on the ground in Syria . The Britain-based ..... underway to receive more Syrians fleeing the area. An … -
Syria's Homs: Evacuee Tells of Life Under Siege
… areas across Syria that have ..... sanctions against Syria to punish ..... in Homs, Syria 's third-largest ..... rebel-held Damascus suburb of ..... an area on Damascus ' southern ..... northern city of Aleppo , rebels ..... year. The Syrian Red Crescent ..... suffering in Aleppo because of ..... reasons. Syrian government ..... in central Syria , was one … -
Russia Rejects Obama's Criticism Over Syria
… its stance on Syria as part of Washington's ..... sanctions against the Syrian government. Commenting ..... Russian stance on Syria . It said that ..... were working with Syrian authorities to ..... of sanctions on Damascus if it fails to ..... a key ally of Syria , protecting it … -
Watchdog: Past 2 Years 'Atrocious' for Journalists
… Journalists says the past two years have been "absolutely atrocious" for the killing and imprisonment of journalists, with Syria the deadliest place to work and Turkey the number one jailer. The international media watchdog said at Wednesday's launch … -
Biden, Jordan's King Abdullah II Confer on Syria
… Jordan's King Abdullah II have discussed Syria 's civil war and the growing violent ..... day after President Barack Obama said Syria is crumbling and peace talks are far ..... a million refugees from neighboring Syria and is concerned about regional instability … -
Sen. John McCain Floods Twitter With Syrian Atrocity Pics That 'Haunt Me'
… committed by the Assad regime in Syria . "These images haunt me ..... continue to do nothing # Syria ," McCain said in one of ..... regime vs the people of # Syria - a stain on our conscience ..... from the suffering of the Syrian people - for, if we do … -
Police Investigating UK Link to Syria Suicide Bomb
… suicide bombing at a Syrian prison last week ..... part of an attack on Aleppo prison which freed hundreds of prisoners. Syrian government forces have ..... the Britain-based Syrian Observatory for Human ..... Muslims traveling to Syria . -
Watchdog: Security Measures Hurt Press Freedom
… among 180 countries, a fall of 13 places. It also highlights the negative impact of armed conflict on media freedom. Syria , in a brutal civil war, ranked 177, just above Turkmenistan, North Korea and Eritrea. The Central African Republic … -
Syrian Opposition Seeks Russian Help in Talks
The Syrian opposition is urging Russia to take a more forceful stand with the Syrian government to help kickstart faltering peace ..... Wednesday they expect Russia — a key ally of Syria 's President Bashar Assad — to put pressure … -
Bulgarian Government Survives No-Confidence Vote
… May. The opposition accused the government of being caught unprepared by a surge of some 12,000 refugees, mainly from Syria , which has strained the country's asylum system. It also claimed that common crime cases across the country has risen … -
2014 State Dinner: Obamas Host French President
… friends. An attendant Steven Bradley Cooper and Mary. Just hours before it was all business the two presidents talked about Syria and Iran. And President Obama was asked perhaps question. Who is America's best ally France or Britain. I have two … -
10 Things to Know for Wednesday
… Hollywood. But none helped shape their time like Shirley Temple. 7. ASSAD'S STALLING TACTICS The AP's Zeina Karam says the Syrian regime's strategy is to negotiate, play for time and hold the West at bay while government troops wear down the rebels … -
Obama Slams Russia for Blocking UN Syria Action
… sanctions against Syria despite Russia's ..... sanctions if the Syrian government ..... not just the Syrians that are responsible ..... blame the Syrian government ..... situation in Syria ." A day ..... all areas of Syria to deliver ..... the city of Aleppo ." "I think … -
Barack and Francois, Presidential Buddies
… More recently, Hollande called for military strikes in Syria , before Obama sought congressional approval of American ..... encountered difficulties with Russia in pressing for action in Syria , and with allies Germany and Brazil after spying on their … -
French President Joins Obama at White House News Conference
… think the Syrian regime is ..... Thousands of Syrians and homes ..... The state of Syria itself. It ..... portions of Syrian Could threaten ..... being of the Syrian people when ..... problem in Syria . I have said ..... reaffirmation by the Syrians and Russia … -
Obama, Hollande Tackle Tenuous Diplomatic Efforts
… frustration" with stalled Syrian peace talks and offered ..... a key partner on both Syria and Iran. The leaders have ..... Addressing the civil war in Syria , where more than 130 ..... frustration here." The Syrian government and opposition … -
State Media: Syria Allows Some Men to Leave Homs
… Barrazi, was quoted by Syrian state TV as saying ..... evacuated from the city, Syria 's third largest ..... Khaled Erksoussi, the Damascus -based head of operations of the Syrian Red Crescent that ..... their choice within Syria , Erksoussi said … -
Analysis: In Peace Talks, Assad Plays for Time
… destruction of Syria 's chemical ..... consequences. "The Syrian regime which ..... homes. The Syrian war has fanned ..... in Homs, Aleppo and around ..... of power Damascus . The rebels ..... control of Syria even after ..... quickly. Many Syrians have little ..... collapse of the Syrian state … -
Obama: Syria Peace Talks Far From Achieving Goal
… Obama says peace talks to end Syria 's civil war are far from ..... situation on the ground in Syria is horrendous. He says the state of Syria is crumbling and it's bad ..... But peace talks between the Syrian government and opposition … -
Official: More Aid for Syrian Rebels 'Could Help'
… more U.S. training and equipment for Syria 's moderate rebels could boost the ..... didn't forecast any new U.S. policy in Syria 's civil war. But asked about U ..... has provided limited lethal aid to Syria 's opposition. It has focused most … -
Syria Allows Some Fighting-Age Men to Leave Homs
The Syrian government has allowed 111 men of fighting age to leave rebel-held areas ..... besieged city of Homs after they were questioned and cleared of rebel links. Syria state TV on Tuesday quoted Homs governor Talal Barrazi as saying the men …
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