Berlin -- Yesterday, Maude Barlow, national chairperson of the Council of Canadians, challenged the Canada-European Union Comprehensive and Economic Trade Agreement (CETA) and other trade deals in a panel discussion with German Chancellor Angela Merkel. During the panel, Chancellor Merkel presented her G7 presidency priorities.
Canada needs to make more use of direct programming with target countries (nearly 80 per cent of official aid went to foreign agencies in 2013, often on a sole-sourced basis). And more should be done to connect Canadian expertise to multilateral development banks and international humanitarian institutions.
In an unprecedented move, the Fed undertook an extraordinary experiment in monetary policy. Unable to further target an interest rate, already at zero, the Fed began announcing a quantity of cash that it would inject into the financial system by purchasing large numbers of government bonds and other highly-rated securities, and replacing them with cash.
Post-crisis regulatory reform efforts show that developing countries are rule takers and G7 countries are the rule makers. All this in spite of the fact that the epicentre of the international financial crisis occurred in developed countries. So why should many of the regulators and supervisors in developed countries claim to know best practices for developing countries?
With the release of the latest growth projections from the Bank of Canada and the International Monetary Fund (IMF), it appears that Canada's two-year run at the top of the G7 group of countries could be coming to an end. Both the Bank of Canada and the IMF have lowered this year's growth predictions, paving the way for - get this - America to take over the top spot.
Assuming Mr. Carney and his fiscal policy counterparts maintain their credibility, the country may very well hang on to number one for another year at least. That's good news for business and it might just be the thing that softens the blow to our equity market should the gyrations of the past few months continue.