Canadian Press Is Reporting The EU Wants To Weaken Canadian Banking Rules

Under the C.E.T.A (Canada-European Trade Agreement) many things are up for grabs. Here are just a few example of how the trade agreement could hurt Canadians

- Restrictions on how local governments spend money
– Banning “buy local” promotions
– Increase Canada’s trade deficit with Europe, leading to significant job losses
– Pressure to increase privatization of local water systems, transit and energy
– Strip farmers of their rights to save seed
– Restrict our Internet freedom and criminalize certain online behaviour

Now the Canadian Press is reporting that a leaked portion of the draft agreement, shows a desire to weaken rules and regulations of the Canadian banking system. (At this point the leaked document and what it contains has not been confirmed. The main stream account of the document has been published, but the document itself has not been)


Canadian Press Story
A leaked draft of part of the Canada-Europe trade talks shows that Canada’s vaunted banking system is on the negotiating table.

The Canadian Press has obtained the Feb. 1 version of the services chapter of the Canada-Europe trade deal that Europe has circulated to its member states.

It shows Canada is struggling to maintain the traditional standards it imposes to protect financial services in Canada from foreign control and financial instability.

The two sides are trying to negotiate a special mechanism that would resolve disputes arising from new forays into each other’s financial services markets.

Canada and Europe had both hoped to sign the comprehensive trade deal by the end of last year, but have still not yet reached agreement on key issues such as drug patents, beef, pork, procurement, investment and automobiles.

Talks continue this week in Brussels.

Read more about the Canadian Press story at: CBC, or financialpost.com

I will be working towards obtaining the leaked document to confirm what the main stream is saying, and updating this story when necessary.

2 Comments on Canadian Press Is Reporting The EU Wants To Weaken Canadian Banking Rules

  1. I agree with Joan!

  2. Harper will sell us out for sure. Its time for another election, a fair one without vote tampering. I am tired of this country and the corruption that is on the rise since Harper took office. I think a more aggressive approach is necessary.

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