Europe Canada Trade Deal On Brink of Collapse

October 21, 2016 Share Print 0

A trade deal between the EU and Canada is on the brink of collapse after talks between Canada and a Belgian region broke down on Friday.

Canada’s Trade Minister Chrystia Freeland left the talks in Brussels, saying the EU was “not capable” of signing a trade deal even with Canada.

Talks on the deal began in 2009. Belgium, the only country blocking agreement, needed consent from the regional parliament of Wallonia.

The deal was to be signed next week.

Speaking outside the seat of the Walloon government, Ms Freeland told reporters: “It seems evident for me and for Canada that the European Union is not now capable of having an international accord even with a country that has values as European as Canada.”

She added: “Canada is disappointed, but I think it is impossible.”

via BBC

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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.