There are some worries here in North America as well, the United States has serious debt issues, the cuts they have made are just superficial at best. Any problems that occur there also affect my economy, when the elephant sneezes all of the America's catches a cold.
In Canada's federal parliament the Conservatives were just reelected to a majority of seats in parliament, and they have plans to reduce spending, but the huge burdens of health care and an aging population have been largely left to the sidelines. The official opposition is now from the left wing NDP(although they have become less socialist in recent years) whilst the centrist Liberal party was utterly destroyed although this is more than just a reflection of their policies but of the parties scandals and history. My own home province Ontario has had threats of a lower credit rating being issued, there is a provincial election due in October so I'm assuming the creditors will wait till then to make any moves.
