Canadian Prime Minister Stephen Harper said Friday he has no plan for any federal bailout of Canada's big banks.
Speaking at a campaign rally in Quebec province, Harper said the Canadian financial system is very strong and the balance sheets of the banks and insurance companies are solid enough that they do not need any financial aid.
He was responding to moves by the U.S. government to take troubled assets off the books of financial organizations at a cost of hundreds of billions of dollars.
Harper said he does not expect any crisis in the Canadian financial system, and while money is tighter these days, consumers should not panic.
Comparatively strong consumer spending has helped boost the economy and has sheltered Canada from the kinds of economic troubles besetting the United States and other countries, he said.
Source:Xinhua
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