Meanwhile, following an intervention from the Bank of Greece, banks have stepped up procedures for the supply of POS terminals not only to retailers but also to independent service providers, restaurants and cafés, etc. Apart from offering convenience to consumers, this also helps to curb tax evasion.
Further, it’s important to remember that Canada’s endowment is extremely diverse. While the cycles for base metals and oil have turned lower, there is still substantial demand that’s supporting the prices of many agricultural goods. As I noted, with continued growth in emerging markets, their populations are becoming increasingly urbanized. In North America, 82 per cent of the population lives in urban areas.