From NAFTA to CETA: Canada-EU Deep Economic IntegrationSubmitted by obamanochange on Thu, 01/13/2011 - 10:04
Canada and the European Union (EU) have already held five rounds of negotiations towards a Comprehensive Economic and Trade Agreement (CETA) which will go beyond NAFTA. With the sixth round of talks scheduled to take place in Brussels, Belgium from January 17-21, Canadian and EU officials remain optimistic that a deal could be finalized by the end of 2011. Thus far, negotiations have included key areas such as goods, rules of origin, services, investment, government procurement, as well as others. As talks enter their final crucial stages, there are growing concerns over the threat CETA poses to Canadian sovereignty. Coupled with the financial turmoil sweeping Europe, deep economic integration with the EU could prove disastrous.
Canada has fared better than other countries during the current financial crisis. With parts of Europe still marred in recession and debt trouble, a trade agreement with the EU, especially under the template in which it is being negotiated could prove costly. Failed monetary policies and government managed free trade agreements that favour corporate interests, deserve their share of the blame for the current global economic predicament. Yet, we are still being told that more globalization is the solution to our financial woes. In order to further restructure the world, the ruling elite seek to capitalize on the economic chaos which in many ways they engineered.