PM says Canada has ’contingency plans’ in case of fallout

In case of recession, Canada has "contingency plans," Stephen Harper said last night during an interview on CBC’s The National.

During the interview in London, the Prime Minister also confessed that he is concerned about the unfolding crisis in the eurozone. "Ever since mid-’08, I have been constantly worried."

Harper said the world should not be waiting on Greece to determine the outcome of the global economy. "I don’t want to sound too alarmist, but we are kind of running out of runway here ... I am told already by my counterparts around the world that it has already been affecting most other economies."

Earlier this week, Finance Minister Jim Flaherty said Canada’s fundamentals are sound. “If we needed to take steps in response to a shock from outside Canada . . . we are in a position to do so because we have fiscal room to move,” he told reporters.

In London for Diamond Jubilee celebrations, Harper is due at Buckingham Palace today for an audience with the Queen.