(April 9 – 18:00 ET) – In a speech delivered today to the Canadian Club of Montreal, Bank of Nova Scotia chairman and CEO, Peter Godsoe, outlined his views on Canada’s place in the new millennium, within the context of economic challenges facing major markets around the world.

“I’m very positive about the future, and the future of our country. And, importantly, I don’t think this country will experience the same magnitude of slowdown that the United States is experiencing,” said Godsoe. “If we remain focused on improving our economic fundamentals, which are already quite solid, Canada’s future will be very bright.”

“Canada has now completed its 22nd consecutive quarter of growth. Our country has been first or second in growth among G7 countries in each of the past four years. Unemployment is near a 25 year low, and inflation has tracked well within the 1 to 3% target range — consistently lower than in the US since 1992. And, Canadian confidence remains strong,” he said.

Godsoe congratulated the federal and provincial governments for their success on fiscal performance, and identified other areas of strength for Canada, including a highly skilled workforce and growing high-tech and service sectors.

Godsoe also spoke about Quebec’s economy and highlighted the Montreal area’s success in the high-tech sector which has led provincial growth over the last few years due to its dominance in aerospace, biotechnology and communications.

In concluding, Godsoe explained why he sees the glass as half full. “Our economic fundamentals are in good shape; we’re an open economy, well positioned for the future; and, we have an increasingly flexible, pro-business policy environment.”