So which country has the soundest banking system?

REUTERS - October 9, 2008

• By Tom Whitfield
• Parksville Qualicum Beach REALTOR®
• Published: Oct 9th, 2008 at 6:28 am

(Reuters) Canada has the world’s soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.

The World Economic Forum’s Global Competitiveness Report based its findings on opinions of executives, and handed banks a score between 1.0 (insolvent and possibly requiring a government bailout) and 7.0 (healthy, with sound balance sheets).

Canadian banks received 6.8, just ahead of Sweden (6.7), Luxembourg (6.7), Australia (6.7) and Denmark (6.7).

SOURCE: World Economic Forum Global Competitiveness Report 2008-2009.

For the full report, visit the full Soundest Banking System article.