As prime minister, Mark Carney claims to be guided by pragmatism, albeit “principled pragmatism.” But his enthusiastic pursuit of deeper alignment with the European Union risks selling out Canadian sovereignty for romantic symbolism and a mountain of red tape.
In his now-famous speech in Davos, Carney said that “nostalgia isn’t a strategy.” Yet his approach to the EU reveals a deeply nostalgic view of Europe as a vibrant counterweight to North American realities. But the numbers say Europe’s economy, far from being vibrant, is in decline. Forecasts for this year project growth of one per cent or less. The EU is beset by stagnation, demographic decline, high energy costs and chronically poor competitiveness. Why would Canada seek even tighter alignment with a bloc that’s in decline when it already enjoys comprehensive trade access through the Canada-EU Comprehensive Economic and Trade Agreement (CETA) and other multilateral channels?
