Canadian trade fell by more than 50 per cent during the Depression; US trade, by 70 per cent. Unhappily, the Second World War is what happened next. Post-war success Our final episode follows the Second World War. After the Depression and war, many countries —including Canada—were determined to create international institutions aimed at preventing such disasters from happening again.
Our intent is to have clean and fully provisioned bank balance sheets by March 2017. Why not do everything in one go rather than over a period of six quarters? Precisely because a number of these loans can be regularized, or stabilized when weak but regular, through the right collective actions.