Lessons for Europe: how Canada dealt with its own fiscal crisis

摘要

Europe’s debt crisis is by no means unique but quite the contrary: Canada had to face a similar challenge during the 1990s. The way this country dealt with the crisis is often presented as a success story. What are the lessons that Europe can learn from Canada’s experience? This article examines the similarities between both crises, explains the main reforms Canada went through and finally analyses the key factors that influenced and enabled this country to overcome the crisis.