CALGARY, Oct 8 (Reuters) - Royal Bank of Canada

CEO Dave McKay on Wednesday said Canada had been too risk-averse

for too long and said what he called excessive caution had

resulted in protracted project approval time lines.

"What are we afraid of? We're afraid of making a mistake ...

we've bubble wrapped our economy and we're waiting for someone

else to solve it, but we have to solve it ourselves," he told

the Calgary Chamber of Commerce.