Summit the Peak of Debt

A member of Canada’s Liberal Party called the G8 and G20 conferences in Huntsville and Toronto “the most expensive 72 hours in Canadian history.”

In an article on the New York Times website, Ian Austen says the latest government estimate on what Canada spent to provide security at the G8 and G20 in June is US$897 million, or about US$12 million per hour.

Government officials say the spending was warranted. Canada initially invited the Group of 8 to its cottage-country town of Huntsville, Ontario, at a resort far from any booming metropolis, but when the Group of 20 asked to also meet in the same week, Canada offered Toronto – a busy city that would require a far more complex security strategy.

“The security force for the two meetings includes 20,000 soldiers, intelligence agents and police officers drawn from across Canada,” says the article.

In Canadian currency the total is closer to $930 million, which has led to calling the summits the “billion-dollar boondoggle.”

To read the New York Times article, click here:
http://www.nytimes.com/2010/06/27/business/global/27security.html?src=busln