March 18, 2009 / 5:09 PM / in 9 years

Harper says U.S. must fix banking problem

TORONTO (Reuters) - Canada’s economy cannot recover from recession until the United States fixes the problems with its financial system, Prime Minister Stephen Harper said on Wednesday.

<p>Prime Minister Stephen Harper sits in on a roundtable for an Economic Action Plan for Small Business in Toronto March 18, 2009. REUTERS/Mark Blinch</p>

“The Canadian economy cannot turn the corner on the recession until we see really a fixing or a significant improvement in the American financial system, in particular, and in the global financial system more generally,” Harper told reporters. “That problem has to be fixed.”

Harper was reacting to remarks by former Bank of Canada Governor David Dodge, who said in an interview with the Globe and Mail newspaper that the recovery in Canada would not be “as quick as everybody thinks” -- casting doubt on the government’s outlook.

Reporting by Cameron French, writing by Randall Palmer; Editing by Peter Galloway

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