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March 1, 1995

Clause 6 of the Quebec Government's draft sovereignty bill commits an independent Quebec to use the rest of Canada's currency. But behind this apparently straightforward statement lurks a formidable economic and political agenda.  A central theme in this Commentary is that the ease with which the currency union can be maintained will depend on how easy the task is. Since circular questions do not present any obvious point of entry, it is useful to start by trying to clear away some of the clutter that often surrounds the currency issue to get a clear view of the essential elements.

 

William Robson

Bill Robson took office as CEO of the C.D. Howe Institute in July 2006, after serving as the Institute’s Senior Vice President since 2003 and Director of Research from 2000 to 2003. He has written more than 270 monographs, articles, chapters and books on such subjects as government budgets, pensions, healthcare financing, inflation and currency issues.