Canada-Europe Trade Deal Chances Evaporate

The European Union’s hopes of signing a landmark free trade deal with Canada this week appeared to evaporate on Monday as the Belgian federal government failed to win the consent of French-speaking regional authorities.

European Council President Donald Tusk had given Belgian Prime Minister Charles Michel until Monday, three days before the planned signing, to resolve the impasse. But a meeting Michel hosted with leaders of the five sub-federal authorities whose permission he needs to go ahead ended in stalemate.

Tusk is now expected to contact Canadian Prime Minister Justin Trudeau and call off an EU-Canada summit that was scheduled for Thursday in Brussels, although all sides insist that the CETA pact, seven years in the making, remains in everyone’s interest.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza