What a Greek Euro Exit Could Mean for Canada

A tumultuous Greek exit from the eurozone would have a harder impact on Canada’s economy than the credit crisis recession of 2008 and 2009, a report from a major Canadian bank warns.

The prospect of debt-saddled Greece defaulting on its loans, and exiting the euro currency union at some point has moved from a remote possibility to a realistic outcome in recent weeks, as a seemingly endless series of summits has thus far failed to solve the crisis once and for all.

The Toronto-Dominion Bank put out a report this week outlining what the impact of such an event might be on Canada’s economy.  Read More…

This article has 10 Comments

  1. Okane

    Europe has spent and wasted its money on Greece already: so if Greece is leaving Eurozone, what difference will it make? It will still be cheaper for Europe to see Greece leaving, than trying to make Greece stay.

  2. Judson P

    At the end of the day this will be cleared up.

    Way too many countries like the US depend on this thing being smoothed out. If not then countries like the US in a year of an election will be a disaster.

  3. Luz Freemand

    Bit of a stretch to think it will cause a recession over here. Yes some commodities will take a hit but i think it will be more a nervous tick and when the default it will just be yet another day on wall street after a months time.

    People are overreacting.

  4. Trevon

    It really is amazing how connected the world is. An economy of a small country can have so much affect on so many others.

  5. Vaughn Bentley

    Ok wait a minute. How does Greece defaulting affect us? I still dont understand this whole thing.

  6. Arthur Titus

    Geez is this whole Greece thing still going? I remember hearing about it a few years ago.

  7. Aron P.

    It’s humorous that all this was caused because the Greek, like so many other countries, became overzealous in robbing its people and giving the spoils to their top 1% in major tax cuts. Now they are clueless on how to pay for it so they are begging for world handouts.

  8. Parker T

    It will definitely have negative consequences for our housing market. We are already experiencing it here in BC.

  9. Jake B

    I want to see more euro style riots and protests. I miss those.

  10. Ozzy Humerickhouse

    These are all simple tactics by the greek government to win more leverage. Nothing to see here. Move along.

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