Important steps will be taken at this week's meeting of the leaders of the G-20 in London. Canada has much to offer these discussions, and is participating actively and constructively. Let me stress at the outset that many of my comments today apply more acutely internationally than domestically.
While some commentators have been too quick to ascribe global failings to our local institutions, we should not engage in a bout of perverse envy. Our system is better. Regulation has been more consistent. Our banks have been more conservative. Credit conditions in Canada remain superior to those in virtually every other industrialized country.