As pretty much everyone has heard, Canada’s performance through the 2008 global financial crisis has burnished our reputation for financial probity. The World Economic Forum has named Canada’s banks the world’s soundest for six consecutive years. In relative terms, we have had a very good crisis.
Our “good” crisis has not done much, however, to boost Canada’s standing in financial markets. The Banker magazine’s 2013 index of top international financial centres puts Toronto ninth globally – the only top-10 city to drop two rungs from 2012.