Friday, September 23, 2011

How Much Money Should Canada Spend Bailing Out Europe?

Today's poll question; how much money should Canada send to bail Europe out of its debt crisis? Should we spend millions, billions, or nothing at all? Sure it makes sense to pay down our own debt before we start helping our allies pay theirs, but others would argue that we cannot let Europe collapse and have a responsibility to try and prevent a meltdown. In Canada we have the good fortune of a strong economy and comparatively manageable debt. It is great to be in a position where Evan Soloman even has the luxury of asking how much money Canada should send across the pond. Jim Flaherty might be the best Finance Minister in the G20 and we are lucky to have him managing our budget.


  1. We (Canadians)fight their wars for them and now we have to sort out the mess their socialist freeloading system has caused NOT.If we bail them out now how long before and how many times are we "required " to continue the process?

    Rob C

  2. Let's turn the question around to help get our answer: "How Much Money Would Europe Spend Bailing Out Canada"?

    I think it's obvious ... the big goose egg.

  3. Canada should offer Europe a blank cheque. However, for every 100 million Canada loans Europe, we get an equivalent value of their art, their historical or archaeological treasures, etc.

    So, Italy wants a billion dollar loan? Yeah...we can swing that. Send Michelangelo's 'David' over and we'll hold it as collateral --we've got a nice little spot in Regina for it. France needs a few billion? Well sure --but our boys are going to assess which paintings we want to hold onto from the Louvre. Greece? Hell yes...whatever you need....because Halifax needs an Acopolis.

  4. Never mind Europe. Canada might have to bail out Ontario.

  5. Tell me just why should we bail out Europe?They disparage NATO,Israel,the US,and Canada.We all know the debt rising is from generous welfare state like programs.The Left for years has trying to make us all bankrupt by arguing they deserve more taxpayer money via there political unions who always vote for more money and raises.It ends now.
    Ontario debt is flirting dangerously high as is quebec.Time to turn off the taps and get people to work, kicking and screaming if need be.
    Wheres the political party with the fortitude to start paying off Ontario's debt?I dont want promises of more money thrown at the corrupt healthcare system.
    The Freedom party so far is looking very tempting.Enough with the socialist welfare state.Promise me you will pay down Ontario's debt, Freedom party and youll get my vote this week.

  6. Don't even think about bailing out Europe, since it would reward them for their financial mismanagement. Furthermore as one anon says we could very well have to bail out Ontario. Actually that would be both Ontario and Quebec since these provinces have run up the biggest debt and deficit thereby draggin down the whole country.

  7. No money, --- zero. Their problems are deeply ingrained and structural.

    Actually this is a serious issue and our politicians had better take note. It's one thing to bail out a poverty stricken 3rd world country where lives are on the line. It's quite another to bail out a European country where all the citizens (even the poorest) live in relative comfort compared to many in other areas of the world.

    Kicking out tax dollars so some lazy damned Greek or Portugeuse young adult can sit on his ass & drink & attend soccer games is garbage.


    You're not going pull your usual bullshit trick of suggesting the idea. Then backing down in the face of public outrage then quietly doing it anyway two months later when it's not making headlines.

  8. They are going down in flames and will take us with them anyway.

    The trick is to disentagle ourselves to limit the amount of damage they can do to us. Rapidly linking to a strong and growing economy like India and paying down our own debt (and divesting ourselves of toxic "assets" like European and US bonds) may be the only way to come out unscathed, but the reality is we are a small nation and will be scorched by the flames anyway


    The tax payers did not make those investments, the banks need to take the hit and leave us well enough alone!