Tiff Macklem: Raising the house of reform Remarks by Mr Tiff Macklem, Senior Deputy Governor of the Bank of Canada, presented to the Rotman Institute for International Business, Toronto, Ontario, 7 February 2012. *  *  *  Introduction It is a pleasure to be here this morning.
Fiscal adjustment in Greece is planned to reduce the deficit from over 13 per cent of GDP to around 3 per cent of GDP in 2014, while in Spain the objective is to reduce the deficit from 9,6 per cent of GDP to 3 per cent by 2013.