Global Markets: Poll finds nearly half of Canadians deeply in debt

By MarketsFarm

WINNIPEG, Oct. 28 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– A poll of 2,002 Canadians conducted by accounting firm MNP and released on Monday found 48 per cent are so deeply in debt that they have less than C$200 in discretionary income each month. Although average amount in the poll was C$557, that down C$142 from a similar poll conducted in June. The poll also found that seven out of 10 respondents felt they lacked the financial resources to handle a major setback such as divorce, unemployment or a death in the family.

– Britons are very likely to be heading to the polls in December. It’s virtually certain the United Kingdom won’t leave the European Union by Thursday’s deadline. Prime Minister Boris Johnson proposed Dec. 12 as a possible election day, while the opposition Liberal-Democrats and the Scottish National Party put forward Dec. 9. The Johnson proposal includes a schedule for Brexit while the proposal from the two opposition parties does not. Labour MP’s meet today to decide their course of action prior to the vote in the House of Commons. The EU has offered Jan. 31 as the new Brexit deadline.

– Argentina President Mauricio Macri conceded defeat in the country’s election on Sunday as Alberto Fernandez received 48.0 per cent of the votes to 40.5 for Macri. In light of the democratic decision, the financial markets could be rattled with a centre-left government coming to power that includes former president Cristina Fernandez de Kirchner as the new vice-president. She and her late husband Nestor Kirchner dominated Argentine politics during the 1990s and 2000s.

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