We don't know for sure who will be tapped for the job of Governor of the Bank of Canada. What we do know is that the individual will be a Canadian. No other nationalities were invited to apply. But, in 2013, does such a citizenship restriction even make any sense? Or is it just another manifestation of good, old-fashioned Canadian parochialism?
Mark Carney, the Bank of Canada governor who's been appointed to head the Bank of England, may go down in history as the best prime minister Canada never had. Carney has a Harvard and Oxbridge background. He is bilingual, with George Clooney good looks, and the ability to deliver pithy sound-bites. Overall, Carney, 47, was seen as the very antithesis of Justin Trudeau, 40, whose most challenging management mission to date was teaching a high school drama class. Why, then, did he slam his door on this opportunity?
The striking appointment of Mark Carney as the new governor of the Bank of England can be interpreted in a wide number of ways -- from a view that highlights the global governance dimension to British and Canadian-specific aspects of the story. From a transnational perspective, Carney's appointment is another sign of the rise of free-agent technocracy in an age of crisis.
Mark Carney has accepted a position as the Governor of the Bank of England effective next July. The Bank of England needs a man like Mark Carney. His expertise is understandably in high demand. Our Canadian economy has immensely benefited from his tenure at the Bank of Canada, and the Bank of England is now fortunate to have him.