Mark Carney spoke before the European Parliament yesterday and (in between references to Goethe and Vimy Ridge) clearly expressed his vision for a new Canada-EU partnership.
What happened: In his keynote address, Carney said Canada and Europe should form “an alliance strong enough so that no one can dictate our choices” and that the country “welcomes the ambition” expressed by European Commission President Ursula von der Leyen of anointing Canada the EU’s first associate member. Further, he expressed what such an alliance should entail.
Zoom in: Carney’s alliance wishlist included: seamless digital trade, cooperation on critical minerals and liquefied natural gas, crafting joint AI safety protocols, pooling sovereign compute capacity, and, potentially, an integrated financial services market.
He also mentioned Canada joining the Erasmus+ program that funds exchanges and mobility for university students, and joining the next phase of Horizon Europe, which is the main funding program for European research and innovation.
Why it matters: The buzzword of Carney’s speech was "sovereignty." While he never mentioned the U.S. by name, the implication was that achieving sovereignty requires weaning off dependence on our southern neighbour. While there are concerns about shifting reliance to another foreign entity, it’s clear that the EU is open to being a much friendlier partner.
Yes, but: These overtures could incur further wrath from Donald Trump, who said he’d consider Canadian associate membership a “hostile act” and would punish both Canada and Europe for it.
While that sort of partnership likely wouldn’t even happen till after Trump leaves office, the president continues to turn the screws, ordering the removal of Canadian items from federal procurement.
What’s next: Canada is hosting a summit with the EU in Montreal at the end of next month — we shall see if any concrete policy proposals emerge from it.—QH
