UPDATE 1-Canada's Flaherty optimistic U.S. crisis will end soon

Thu Oct 10, 2013 2:30pm EDT

OTTAWA Oct 10 (Reuters) - Canadian Finance Minister Jim Flaherty on Thursday expressed confidence the U.S. crisis would end soon, saying the American administration was starting to realize the partial shutdown of government was hurting the global economy.

"There is an increasing understanding by the American administration that this is not just a United States situation," Flaherty said. "This is a situation for the world and it affects the global economy."

Flaherty said that if the shutdown continued, it would harm the Canadian economy. Canada sends around 75 percent of all its exports to the United States.

"If this persists over weeks it will have a significant effect, but I actually don't think it will and I think we'll be OK," he said.

He added that he thought "a lot of progress has been made...things are much more positive today than they were yesterday," he told the Canadian Broadcasting Corp. from Washington, in particular citing a new Republican plan that would avert a looming U.S. default.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.