TORONTO (MarketWatch) — What happens if the euro zone unravels with Greece, Ireland, Portugal and Spain all leaving at the same time as political gridlock drives the U.S. off a fiscal cliff? What if China was no longer willing to fund the U.S. deficit and there was a dramatic 40% decline in the U.S. dollar?
Craig Alexander, chief economist and head stress tester for TD Bank
MarketWatch discussed these questions and others with TD Bank Group’s TD -0.89% chief economist, and head stress tester, Craig Alexander, whose job is to imagine the worst possible economic or natural catastrophes and examine what impact it would have on the Toronto-based bank and Canadian economy as a whole.
Alexander discussed problems intensifying in Greece and what impact a deep European recession would have on Canada. He also talked about how Canadians are vulnerable to an economic shock as borrowers have taken on record debt.
via Canadian bank’s stress-test pro talks Europe – MarketWatch.
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