Jim Flaherty announced yesterday he would be resigning his post as Canadian finance minister after more than eight years on the job. The following are comments from executives, economists and officials on his tenure as Canada’s third longest-serving finance chief.
Jim Flaherty, one of Canada’s longest-serving finance ministers who helped the country stave off the worst of the global financial crisis, announced his resignation from cabinet to seek work in the private sector.
Back in the spring of 2012, while walking in the deep woods of northern Ontario, Sonny Gagnon stumbled across a collection of surveying equipment among the towering spruce trees. Gagnon is chief of the Aroland aboriginal tribe, a band of 450 people living in a village of ramshackle houses surrounded by swampy muskeg. He tracks everything that goes on in his community. And the surveying tools weren’t supposed to be there.
Former Canadian Prime Minister Paul Martin, who slashed his nation’s debt in the decade through 2005, said Europe needs to show Greece how austerity will pay off in the medium term to successfully push through budget cuts.
Former Canadian Prime Minister Paul Martin said Europe must make progress toward a deeper union that includes joint euro-region bonds, much like what Alexander Hamilton did in the U.S. more than two centuries ago.