Canada's Flaherty optimistic U.S. crisis will end soon

Reuters

OTTAWA, Oct 10 (Reuters) - Canadian Finance Minister JimFlaherty on Thursday expressed confidence the U.S. crisis wouldend soon, saying the American administration was starting torealize the partial shutdown of government was hurting theglobal economy.

"There is an increasing understanding by the Americanadministration that this is not just a United States situation,"Flaherty said. "This is a situation for the world and it affectsthe global economy."

Flaherty said that if the shutdown continued, it would harmthe Canadian economy. Canada sends around 75 percent of all itsexports to the United States.

"If this persists over weeks it will have a significanteffect, but I actually don't think it will and I think we'll beOK," he said.

He added that he thought "a lot of progress has beenmade...things are much more positive today than they wereyesterday," he told the Canadian Broadcasting Corp. fromWashington, in particular citing a new Republican plan thatwould avert a looming U.S. default.

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