Banking and the Economy

Banking is one of the nigh authoritative factors on the economies of todays society. As with everything these days, technology is changing where, when and most of all, how we do things, specifically banking and some other related financial transactions and arrangements such as mortgages, etc.         Recently, in Toronto, the very city we live in, we were in the thick of two possible bank mergers, which would have changed banking and on a doubler scale the entire economy, in numerous ways.         In comparison to the larger banks of the globe, Canadas most major(ip) banks be non even close to the size and caliber of foreign banks like ING Direct, for example. This would not typically be a job for Canadian banks, however when these external banks move into Canada, which has take a chanceed already, and is stick out to happen even much(prenominal) as time passes and Canada becomes a more prosperous country, it quickly becomes a very large problem. Banks be an extremely affluent business. Regardless of where you argon in the world banks are right at the top of the incline when it comes to capital, equity and earnings. Canada fits right in, in comparison to the rest of Canada. but when we liken Canadas banks to those of other countries, or even better, international banks, they are simply insignificant.

For example, hypothetically speaking, if the entire world were opting whether or not to adopt a single currency, most deciding factors would be made by the banks of each individual country. Canada, although it is a major world leader in many ot her categories, would not be looked upon as ! a country that knew much to the highest degree international stature, in terms of banking. In this hear I will try to prove how banking is one of the most influential factors on the economy by... If you want to get a in force(p) essay, order it on our website: BestEssayCheap.com

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