The following is excerpted from the 6 August 2011 edition of CBC News.

Canada has a "range of measures" to deal with potential global economic troubles but could eventually be affected by Standard & Poor's downgrade of the U.S. credit rating, Finance Minister Jim Flaherty says.

"Canada is not an island," Flaherty said late Friday in a statement. "We are a trading nation, with about a third of output generated by exports and deep linkages with the U.S. economy... 

This article is available in its entirety on the CBC News website at:

http://www.cbc.ca/news/politics/story/2011/08/06/pol-us-credit-flaherty.html

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