Korean Job Discussion Forums

[drkalbi]

CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.

But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.

The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.

The United States was on Thursday considering buying a slice of debt-laden banks to inject trust back into lending between financial institutions now too wary of one another to lend.

The World Economic Forum's Global Competitiveness Report based its findings on opinions of executives, and handed banks a score between 1.0 (insolvent and possibly requiring a government bailout) and 7.0 (healthy, with sound balance sheets).

Canadian banks received 6.8, just ahead of Sweden (6.7), Luxembourg (6.7), Australia (6.7) and Denmark (6.7).

UK banks collectively scored 6.0, narrowly behind the United States, Germany and Botswana, all with 6.1. France, in 19th place, scored 6.5 for soundness, while Switzerland's banking system scored the same in 16th place, as did Singapore (13th).

The ranking index was released as central banks in Europe, the United States, China, Canada, Sweden and Switzerland slashed interest rates in a bid to end to panic selling on markets and restore trust in the shaken banking system.

The Netherlands (6.7), Belgium (6.6), New Zealand (6.6), Malta (6.6) rounded out the WEF's banking top 10 with Ireland, whose government unilaterally pledged last week to guarantee personal and corporate deposits at its six major banks.

Also scoring well were Chile (6.5, 18th) and Spain, South Africa, Norway, Hong Kong and Finland all ending up in the top 20.

At the bottom of the list was Algeria in 134th place, with its banks scoring 3.9 to be just below Libya (4.0), Lesotho (4.1), the Kyrgyz Republic (4.1) and both Argentina and East Timor (4.2).

RANKINGS

1. Canada

2. Sweden

3. Luxembourg

4. Australia

5. Denmark

6. Netherlands

7. Belgium

8. New Zealand

9. Ireland

10. Malta 11. Hong Kong

12. Finland

13. Singapore

14. Norway

15. South Africa

16. Switzerland

17. Namibia

18. Chile

19. France

20. Spain

--------------------------------------------

124. Kazakhstan

125. Cambodia

126. Burundi

127. Chad

128. Ethiopia

129. Argentina

130. East Timor

131. Kyrgyz Republic

132. Lesotho

133. Libya

134. Algeria

SOURCE: World Economic Forum Global Competitiveness Report 2008-2009.

[yawarakaijin]

Good news but it doesn't seem to be doing the Canadian dollar any good. I'm not complaining really as I've just seen my yen's value in CAD$ just shoot up a good 18%

[livinginkunsan]

some of us want the dollar to go down

[jvalmer]

Me too. I personally want the CAD$ to get pounded back to the 65ish cent zone, so hopefully, I can get a better rate than what it's at now.

[Kimbop]

If George Bush is the devil, the worst Pres ever, and single-handedly responsible for the present world economic turmoil, then PM Harper must be the best PM ever! Go cons!

[mindmetoo]

Where is Derrek so we can rub it in?

[yawarakaijin]

Prices in New Zealand are pretty much on par with Canada from what I've heard. Take a look at what the yen is doing to the Kiwi dollar!

100 yen gets you 1.68 NZ dollar. To put that in perspectvie the very lowest JPN salary of 250,000 yen per month would be netting Kiwis 4,200$ a month!!

If i were a Kiwi I would be making 6,400$ a month. Damn. Is it easy to immigrate to New Zealand? (then head right back to Japan in my current job)

[Temporary]

Canadian Banking system is really bullet proof. Banking is part of my major.

My parents said that the spending hasn't lessened in their stores. Canada will not be effected as much as the Yanks by this clusterfluck that their Economy is going through.