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I S Cover FEB MAR 2010.Indd ^c[dhj^hhZ Publication of the Swiss Canadian Chamber of Commerce Toronto and Montreal Publication de la Chambre de Commerce Suisse-Canadienne de Toronto et Montréal February/March Février/Mars 2010 Feeatureature: WWillill CanadaCanada OwnOwn thethe PodiumPodium atat thethe 22010010 OOlympics?lympics? EEconomiconomic OOutlookutlook 22010010 RReportageeportage : LLee CCanadaanada ddominera-t-ilominera-t-il lesles ppodiumsodiums à VVancouverancouver eenn 22010?010? PPrévirévissionsions économiqueséconomiques 22010010 wwww.swissbiz.caww.swissbiz.ca wwww.cccsmtl.comww.cccsmtl.com FOR ALL YOUR ENTERTAINING NEEDS For over 25 years, Swissmar has offered a selection of leading brands from around the world to meet all of your entertaining needs. Our Swissmar brand continues to develop, and has expanded from raclettes and fondues, to wine accessories, bamboo products and cheese knives. Our latest endeavor, Swiss Classic Peelers, use proprietary technology from Switzerland to make them the sharpest and most durable peelers you will ever use! At Swissmar, quality, value and ingenuity are our key commitments for creating entertaining necessities. Our Swissmar brand products are available in many countries. Visit us at www.swissmar.com BEYOND ORDINARY. LEGENDARY. Heritage - Craftmanship - Innovation - Performance - all key elements and commitments from Wenger®, known as the Maker of the Genuine Swiss Army Knife™. The Swiss Military® Watch collection continues the tradition of quality, heritage and Swiss craftsmanship that began more than a century ago with the Swiss Army knife™. Today, the same passion for providing lasting value and timeless design exists in both the Wenger® Swiss Army Knife and the Swiss Military® watch. Visit us at www.swisspeak.com ^c[dhj^hhZ Publication of the Swiss Canadian Chamber of Commerce Toronto and Montreal Publication de la Chambre de Commerce Suisse-Canadienne de Toronto et Montréal FEATURE / REPORTAGE Will Canada Own the Podium at the 2010 Olympics? Le Canada dominera-t-il les podiums à Vancouver en 2010? Economic Outlook 2010 / Prévisions économiques 2010 4 Global Outlook 2010 – Year of Recovery and Financial Recuperation 6 Croissance Economique en Europe : Quelles Perspectives pour 2010? 7 Sovereign Ratings are Taking a Knock – A Closer Look to Canada, Switzerland, Germany 8 Global Economic Outlook 2010 9 Inside Swiss Banking – Interview with Beat J. Guldimann about his new book 12 The Future of the US Dollars 12 Prices and Earning Report 20 Will Canada Own the Podium at the 2010 Olympics? BUSINESS AND OTHER NEWS / INDICE CONTENTS NOUVELLES ECONOMIQUES ET INFORMATION 17 Bruno’s Tip – Deadlock Destroys a Friendship. 18 Karin’s Performance Solutions – Common Sense: Not as Common as You Think 22 Health Care Systems in Canada and in Switzerland 25 Business News 26 Travel News 29 Investment Returns: The Math is not so Simple 29 The Dreaded CRA Audit 30 2009: What a Crazy Year in Real Estate! 32 Trade Fairs CHAMBER NEWS NOUVELLES DE LA CHAMBRE 2 President’s Message SCCC/ Upcoming Events 3 Message du Président CCCS / Evénéments 5 Nouveaux Membres – CCCS 14 Member Profi le / Profi l d’un membre 17 Scholarship Fund 21 New Members – SCCC 24 Soccer World Championship Erik Read, member since 2009 of the Canadian Development Team. Inset: Ken Read, Canadian Ski Team 1973-83 (“Crazy Canucks), Winner of 5 World Cup Events and former CBC Sports Broadcaster. Swiss Canadian Chamber of Commerce (Ontario) Inc. 756 Royal York Road • Toronto, Ontario M8Y 2T6 Tel: (416) 236-0039 • Fax: (416) 236-3634 • E-mail: [email protected] • www.swissbiz.ca BOARD OF DIRECTORS • 2009 – 2010 President: Dear Members, Hans Munger Urban Edge Shading Inc. By the time you hold this latest info suisse magazine in your hands, 181 Amber Street, Markham ON L3R 3B4 Tel: 905-470-6901 E-mail: [email protected] the 2010 Winter Olympics in Vancouver are most likely already in Website: www.urbanedgeshading.com full swing. Exciting times for those of us who are (winter) sports Vice-President: Phillip Gysling Mesh Innovations Inc. fans, and we will probably spend every available minute in front of a 174 Hallam Street, Toronto ON M6H 1X5 Tel: 416-871-8159 television set. Companies may have to deal with red-eyed, yawning Email: [email protected] Website: www.meshinnovations.com employees until the Olympic fl ame will be extinguished again on Treasurer: Urs Villiger the 28th of February. RE/MAX WEST REALTY INC. 1678 Bloor Street West, Toronto ON M6P 1A9 Tel: 416-562-7701 We were indeed fortunate to have Ken Read, the former ‘Crazy Email: [email protected] Website: www.remaxwest.com/UVilliger Canuck’ ski racer address our luncheon, held jointly with the Empire Club of Canada on the Secretary & Legal Counsel: Bernard Lette 28th of January at the Royal York Hotel. What a way to get into the Olympic spirit. I am sure Lette Whittaker LLP 20 Queen Street West, #3300, P.O. Box 33, Toronto ON M5H 3R3 that those of you who attended Ken’s speech felt inspired and uplifted! We owe our sincere Tel: 416-971-4898 Email: [email protected] thanks to Daniel Oehy of Swissmar who was instrumental in bringing his old friend Ken Website: www.lette.ca Past President: Read to Toronto for this unique experience. On February 28th, we will be able to determine Ernst Notz 2 Hunter Avenue, Toronto ON M6E 2C8 whether Canada indeed will have “owned the podium” at these games, the topic Ken chose Tel: 416-784-2872 Email: [email protected] in his keynote address, since he is one of the key promoters and visionaries for this Cana- Website: www.nacora.com Board of Directors: dian challenge. We wish all the Canadian Olympians good luck, while of course also keeping Rudi Blatter Lindt & Spruengli (Canada) Inc. our fi ngers crossed for the Swiss Olympic team! May the best athlete win (as long as it is a 181 University Avenue, Suite 900, Toronto ON M5H 3M7 Tel: (416) 351-8566 Canadian or Swiss!). Email: [email protected] Website: www.lindt.com Julien Favre Has the thought ever crossed your mind that in business we too, are in some way athletes UBS 154 University Avenue, Toronto ON M5H 3Z4 striving to become Olympians who might one day stand on the top? Much like athletes, Tel: (416) 345-7033 Email: [email protected] Website: www.ubs.com/1/e/canada whose dream it is to make it to the podium, we may labour in relative obscurity, trying hard Jean-Jacques Henchoz to successfully work our way slowly to the top in our industry. Just as we are starting to feel Swiss Reinsurance Company 150 King Street West, # 2200, POB 50, Toronto ON M5H 1J9 Tel: 416-408 0272 good about some of our accomplishments, small setbacks strike: a top employee suddenly Email: [email protected] Website: www.swissre.com leaves our company, a competitor out-manoeuvres us for an important contract or some Roger Hunziker The Bata Shoe Museum unexpected illness sets us back. Worse still, disaster strikes in the shape of a severe eco- 327 Bloor Street West, Toronto ON M5S 1W7 Tel: 416-979-7799 x 242 nomic downturn that might prevent us from becoming “Olympians” and which could set us Email: [email protected] Website: www.batashoemuseum.ca back another four years! Just like real sportsmen, we then gather all our strength, wisdom Sandra Leuba 136 Curzon Street, Toronto ON M4M 3B5 and experience, and in real defi ance may work even a bit harder (and possibly smarter, too) Tel: 416-616-4251 Email: [email protected] to make it back to the top. No Olympic glory may be waiting for us in the end but simply the Ronnie Miller Hoffmann-La Roche Ltd. triumphant feeling that we have conquered adversity and persevered through hardships to 2455 Meadowpine Boulevard, Mississauga ON L5N 6L7 Tel: 905-542-5522 make it back to the top. I am sure that whoever has gone through such a phase will feel like Email: [email protected] Website: www.rochecanada.com a winner at Olympic Games, standing on top of the podium. Daniel Oehy Swissmar 35 East Beaver Creek Rd, Unit 6, Richmond Hill, ON L4B 1B3 Tel: 905-764-1121 Email: [email protected] Website: www.swissmar.com Sincerely, David Turnbull Canadian Courier & Logistics Association 169 Beechwood Avenue, Willowdale ON M2L 1J9 Tel: 416-449-2860 Email: [email protected] Hans Munger, President Urs Uhlmann Zurich 400 University Avenue, 25th Floor, Toronto ON M5G 1S7 Tel: (416) 586-2959 Email: [email protected] Website: www.zurich.ca 2010 COMING EVENTS Honorary Director: Bernadette Hunkeler Consulate General of Switzerland 154 University Avenue, Suite 601, Toronto ON M5H 3Y9 April 21: Annual General Meeting at Le Meridien King Edward Hotel Tel: 416-593-5371 Website: www.eda.admin.ch June 23: Spousal Event, TBA Liaison Offi cer Consulate General of Switzerland: Philippe Crevoisier August 17: Pub Night with British Chamber at the Duke of York Consulate General of Switzerland 154 University Avenue, Suite 601, Toronto ON M5H 3Y9 September 13: Golf Tournament at Meadowbrook Golf & Country Club Tel: 416-593-5371 Email: [email protected] Website: www.eda.admin.ch November 20: Gala Dinner Dance at Le Meridien King Edward Hotel Executive Assistant: Patricia Keller Schläpfer 756 Royal York Road, Toronto ON M8Y 2T6 Further Information can be found on www.swissbiz.ca/upcoming_events Tel: (416) 236-0039 Fax: (416) 551-1011 E-mail: [email protected] or (416) 236-0039 Website: www.swissbiz.ca Electronic Typesetting and Assembly: Nancy Raitt @ corptype Printed by: J. B. Deschamps 2 I NFO SUISSE La Chambre de Commerce Canada-Suisse (Montréal) Inc. Swiss Canadian Chamber of Commerce (Montreal) Inc. 1572 Avenue Docteur Penfi eld, Montréal, Qué.
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