Yes, Canada will continue to oppose any sort of tax like that, for several reasons. One, it's punitive. Two, it's counterproductive, in fact, because it reduces the lending power of financial institutions, which we need at a time of relatively moderate economic growth. It is, in part, scapegoating. It doesn't address the issue.
The issue in Europe is the need for fiscal consolidation, which is a fancy way of saying getting back to surplus and paying down public debt. That's the issue. The issue isn't taxing banks or taxing financial institutions.
Wwhen we led the charge against the global financial tax, it's interesting who our allies were. Our allies were not most of the Europeans. Our allies were the emerging economies of the world in the G-20, who stood with Canada and said that it was self-defeating, that it was not something we ought to do. As I say, that alliance was between Canada, Mexico, Argentina, and other emerging economies in Asia.