Those Canadians are pretty clever: choosing Iqaluit for the G-7 meeting of finance ministers and central bankers this weekend is a stroke of genius.
Iqaluit? It's the capital of the northern Canadian territory of Nunavut, located on the south coast of Baffin Island at the head of Frobisher Bay. That's just below the Arctic Circle, about half way between New York and the North Pole. Population is about 7,250, of which about 60% is Inuit and other native peoples. The town is a couple of thousand miles away from the nearest highway or railway so access is either by airplane when the runway is clear of snow or by boat during the summer. Canadian Finance Minister Jim Flaherty said the remoteness of Iqaluit will return the G-7 to its roots "with a more frank and focused dialogue."
Read Full Article »