I’d rather not give up currency sovereignty. Closer economic and military ties, sure, but not full membership. There’s also the reality that some of the most powerful economies in the EU in Germany and France are flirting with their own neo-fascist movements.
Can you please explain why you think currency sovereignty is such a big hangup? I see lots of potential issues with joining the EU, but having to use the Euro doesn’t even register for me as a problem.
See my reply to the other commenter in this thread. Additionally, currency sovereignty is a cornerstone of modern monetary theory, were Canada to want to adopt something like that.
Because national control over the Canadian dollar gives us a lot of flexibility that adopting the Euro would take away. Particularly in a country that is about to have to attract new trading partners to buy our exports, the ability to devalue our dollar to make those exports more attractive is going to be important.
I’d rather not give up currency sovereignty. Closer economic and military ties, sure, but not full membership. There’s also the reality that some of the most powerful economies in the EU in Germany and France are flirting with their own neo-fascist movements.
Can you please explain why you think currency sovereignty is such a big hangup? I see lots of potential issues with joining the EU, but having to use the Euro doesn’t even register for me as a problem.
See my reply to the other commenter in this thread. Additionally, currency sovereignty is a cornerstone of modern monetary theory, were Canada to want to adopt something like that.
okay but it’s also kinda the cornerstone of the single market sooooo
Giving up your national currency for one managed by the European Central Bank is the opposite of currency sovereignty.
Why not? ☺️
Because national control over the Canadian dollar gives us a lot of flexibility that adopting the Euro would take away. Particularly in a country that is about to have to attract new trading partners to buy our exports, the ability to devalue our dollar to make those exports more attractive is going to be important.