The Parti Québécois leader Pauline Marois is poised to win a majority in the Quebec legislature. A self proclaimed sovereignist, she has pledged to hold another referendum. Where will this lead Canada and how does it affect us? Quebec will lose approximately 7.5 Billion (last year’s figure) in transfer payments but will have the opportunity to renege on their share of the 400 Billion deficit that Canada is currently running. They will no longer be able to use the Canadian Dollar. They will lose the resource rich Ungava territories. The exodus of corporate head offices will continue at an accelerated pace. The Cree and the Inuit as well as other smaller bands of First Nations will find themselves having to negotiate with an intolerant Block over treaties made with the Crown. What kind of message will this send out into the world community about the strength of our currency? This next year will be one for the history books but let us not overlook Mr. Putin’s graphic lesson: that sometimes things lost have a way of coming back.
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