Yes, absolutely, because Canadian banks are very well capitalized. It is the main reason why our system is the envy of the world. Significant losses were suffered mainly in the United States and in Europe. As I said in my opening statement, this crisis began abroad and most solutions must be applied at the international level. In the United States and in Europe, there is a clear and distinct need to recapitalize institutions, including public funds; however, this is not the case in Canada.
On March 5th, 2009. See this statement in context.