Cop Cars Burned, 40 Arrested At Canada Fracking Protest
CANADA FX DEBT-C$ steady on benign CPI data; U.S. economy in focus
It is expected to increase bilateral trade in goods and services by a fifth to 25.7 billion euros ($35 billion) a year, according to the latest EU estimates. Barroso said he hoped the agreement could come into effect from 2015, after EU governments, the European Parliament and Canada’s 10 provinces give their blessing. One significant potential obstacle was cleared on Friday when the government of Quebec, whose dairy industry had been unhappy about the increased EU cheese quota, announced its support for the agreement. On dairy, the province’s government said Ottawa had committed to compensate producers for any losses due to the new import quotas. However, France signaled some reservations about an influx of Canadian beef under the deal, even if its Munster and Camembert cheese will now win easier access to Canada’s supermarket shelves. “I am waiting for confirmation from the Commission that this accord, particularly in agriculture, does not a set a precedent for talks with the United States,” said French Trade Minister Nicole Bricq at a meeting with De Gucht and her peers in Luxembourg. The Commission is negotiating trade pacts with more than 80 countries on behalf of the bloc’s 28 members after the collapse of the marathon Doha round of global trade talks. The delays that dogged the agreement with Canada showed how difficult such deals can be. Efforts to sign a free trade accord with the United States faced a setback this month when a second round of negotiations was cancelled because of the U.S. government shutdown. intelligence contractor Edward Snowden, who has taken refuge in Russia. Still, the EU-Canada agreement should provide a boost for EU-U.S. negotiations. Both deals seek to go far beyond tariff cuts and to reduce transatlantic barriers to business.
The Quebec negotiator was settling in to munch, ironically enough, on some supply-managed poultry when he got the news. “(We’re) having turkey sandwiches and they tell us it’s 17,700 tonnes (more dairy imports allowed),” Johnson, a former premier, told reporters Friday. “We said, ‘Are we hearing this right? Maybe there’s one too many zeros?'” He interpreted the 11th-hour, holiday timing of that news as a sign Ottawa was “concerned” that the issue could scuttle the historic deal. Things were smoothed out over the next three days, with premiers Pauline Marois and Kathleen Wynne eventually consulting each other on how to wrest compensation for farmers in exchange for more European dairy imports. Both provinces have now declared themselves on board with the project. In fact, Quebec’s opposition party has even said it’s “rejoicing” over the deal which was initially spearheaded by the Charest government seven years ago. That doesn’t mean the negotiations were problem-free in the later stages, however. “When they told us (about dairy imports) we were stunned,” Johnson said. “I reported this to Quebec City. So we mounted an offensive, with Ontario.” That offensive consisted of demanding help from the federal government for farmers hurt by the influx of European products. Quebec says that compensation mechanism might include money, or import licences, for farmers. It took three days to work out the details with the feds.
Canada-EU talks hit stressful patch over Thanksgiving
government shutdown would be on the world’s largest economy. The uncertainty weighed on the greenback, though the currency cut some of its earlier declines, and kept the loonie largely to a narrow trading range. A partial shutdown of the U.S. government, which was resolved earlier this week, has raised concerns about how much of a bite it will take out of the already fragile economic recovery. That casts some uncertainty on Canada’s economic prospects, as the United States is Canada’s largest trading partner. Investors are also speculating that the impact from the shutdown will see the Federal Reserve maintain the current pace of its economic stimulus program for longer than had been expected. On the domestic front, the loonie saw little reaction to data that showed the annual inflation rate was unchanged in September, leaving the Bank of Canada with plenty of room to keep interest rates low. “The Canadian dollar is going to be sidelined, realistically, and I don’t see us getting out of our recent ranges,” said John Curran, senior vice president at CanadianForex. Curran sees the Canadian dollar staying within a range of C$1.01 and C$1.06 for the remainder of the year. The Canadian dollar ended the North American session at C$1.0294 versus the greenback, or 97.14 U.S. cents, just a tad weaker than Thursday’s close of C$1.0293, or 97.15 U.S. cents. The United States will be releasing economic reports that were postponed by the shutdown over the coming weeks. Chief among them will be September’s unemployment report, which will be released on Tuesday. Canada’s annual inflation rate was unchanged at 1.1 percent in September and core inflation held at 1.3 percent, both under the Bank of Canada’s target rate of 2.0 percent, according to Statistics Canada.
A former Elsipogtog chief told the Globe and Mail that “everybody got mad” after the arrests and that Mounties chased the crowd to a line of police cars. She reported seeing six in flames. At least one shot was fired at Mounties, the RCMP said. Protesters reported that police fired plastic bullets and used pepper spray. No injuries were reported. “The RCMP has worked diligently with all parties involved in hopes for a peaceful resolution. Those efforts have not been successful. Tensions were rising, and serious criminal acts are being committed,” Constable Jullie Rogers-Marsh of the New Brunswick RCMP said in a news release . But native leaders said police provoked the confrontation by arriving with guns drawn. “It is really very volatile. It’s a head-to-head between the people and the RCMP right now and the warriors are in the middle surrounded by the RCMP and then the RCMP are surrounded by the people,” said Susan Levi-Peters, a former Elsipogtog First Nation chief, who has been an intermediary during the dispute. Melina Augustine, who was arrested for obstruction, described to CTV News Atlantic what happened. “It just got wild and they all tackled us down,” she said, adding that her 67-year-old mother was among those subdued.