Prior to the French and Greek elections, the latest developments in Europe mainly revolved around Spain; worries over Spain’s economic situation surfaced after the European Central Bank’s long-term financing operation in February, which helped stabilize the Eurozone, and they have since increased.

Despite repeated warnings that interest rates may rise sooner than many Canadian consumers expect, at least one economist says recent GDP data will give the Bank of Canada reason for pause.

As governments join the deleveraging trend, business spending will have to fill the void. Luckily corporations are sitting on a mountain of cash.

Governments are going broke and consumers are tapped out. That leaves only business spending as a potential driver of growth. The economy will be slower, but healthier.