Justin Trudeau's credibility as a fiscal manager is shot; he'll have to curb spending to get it back
Veterans of the “northern peso” fight appear to be worried their efforts have been forgotten.
The Great Recession and now the COVID-19 pandemic consume the headspace of the current generation of policy-makers. But before those life-altering events, Canada suffered the costly humiliation of falling out of favour with international investors in the 1990s. Back then, currency traders referred to the Canadian dollar as the northern peso, an uncharitable comparison to Mexico, and the Wall Street Journal in an editorial sarcastically called Canada an honorary member of the Third World.
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