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debt crisis

A new warning says Canadians couldn't handle substantial interest rate hikes, just as rates are hiked.
Forbes magazine joins a growing list of institutions who fear a Canadian debt shock.
Canadians risk a debt crunch "beyond historical experience" when interest rates rise.
When it comes to risky banking, Canada and the U.S. may be trading places. The Bank for International Settlements (BIS) has
One may truly feel for our Minister of Finance, as no one likes to talk and be ignored. Yet, this seems to be an experience Mr. Flaherty knows all too well, as the past year he has repeatedly warned Canadians about their increasing personal debt loads, only to have those warnings tuned out.
For nearly 20 years, Alan Greenspan was the most powerful banker in the world as chairman of the Federal Reserve Board until 2006. Here, Greenspan speaks with National Post Editor-at-Large, and Huffington Post contributor Diane Francis regarding the eurozone crisis.
Most people tend to dislike taxes, but most people also want the benefits of government largess without having to foot the bill. In essence, they want something for nothing. But since the world doesn't work that way, politicians have to find ways to seem to be meeting this irrational desire.
The party that calls itself Europe is over. The sovereign debt crisis afflicting its weakest members has ended the eurozone's political Ponzi scheme -- the proclivity to hand out entitlements today and run up a tab due tomorrow.
Yesterday's resignation of Italian Prime Minister Silvio Berlusconi is a loss to comedians everywhere. Which other world leader can possibly fill the void? It was easy to bid "avtio" to George Papandreou earlier this week. Aside from his comically large moustache, there was nothing very funny about the way he drove Greece into bankruptcy, while threatening to take the whole rest of the EU down with him. But give Berlusconi this: the guy steered his country to ruin with, well, not style exactly -- maybe chutzpah. It's one thing simply to overpay state workers -- quite another to host "Bunga Bunga" sex parties while your country burns.
The Germans and French have gone public with their desire to oust certain countries from the euro and build a new eurozone with much deeper policy integration and a much more selective membership.