Financial Times FT.com

Canada banks prove envy of the world

By Christopher Mason in Ottawa and Bernard Simon in,Toronto

Published: February 20 2009 02:00 | Last updated: February 20 2009 02:00

Banks are usually not on the agenda when US presidents visit Canada. But before setting off on his first foreign trip as president, Barack Obama said the performance of Canadian banks - alone among those of the Group of Seven nations in not receiving a government bail-out - was "striking".

"Canada has shown itself to be a pretty good manager of the financial system in ways that we haven't always been here in the United States," Mr Obama told a Canadian broadcaster.

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