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Credit Crunch Threat To Canadian Growth

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A continuing liquidity crunch in Canada’s asset-backed commercial paper market is triggering a sharp contraction in the availability of credit, threatening to cut short the economy’s robust growth.

The problems are striking, given that the Canadian authorities organised a highly unusual restructuring of ABCP paper last month – a move intended to bring an end to the liquidity squeeze and restore confidence.

var mpusky = new Advert(AD_MPUSKY);mpusky.init();Bankers globally will be closely watching developments, particularly as similar pressures are emerging in Europe and the US.

may have the 1st victim

http://www.ft.com/cms/s/0/4d5f9d04-5a4c-11...00779fd2ac.html

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