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For more than a decade, it was one of the most challenging questions in Canadian politics: will Mark Carney be the next prime minister? On Sunday, members of the Liberal Party gave their answer by selecting a former central banker for their leader to replace Justin Trudeau.
In his new role, the former governor of the Bank of Canada and Bank of England faces two immediate tasks. Can he save the Liberal Party from election destruction and can negotiate a trade trim with Donald Trump?
With elections to October, polls show that liberals narrow the gap with opposition conservatives on 8 percent points with Carney at the helm.
Analysts say that part of the reason is the US president. Trump has repeatedly threatened to annex Canada and make it 51.
For more than a year, Conservatives Pierre Poilievre has led the polls for at least 20 points through Trudeau. But despite Trump’s attacks on Canada, Carney reduced the importance of liberals during a period of renewed Canadian patriotism.
“Carney brings fresh face dynamics,” said Dimitry Anastakis, a professor at the University of Toronto Rotman School of Management. “He can represent a form of change within the Liberal Party that could be convincing enough to overcome their fatigue with a 10-year-old government.”
In order to remain a prime minister for more than a few months, Carney will have to convince the general public, not just liberal voters, that he is a man for a job. He will probably call the federal elections shortly after he swore this week.
The son of the teacher, Carney grew up in Edmonton, Albert, and entered his graduated from Harvard and Oxford Universities, and the latter as a Rhodes scholar. At Oxford, he met his wife Diana Fox, a British economist.
John Manley, who was the Minister of Finance at the Liberal Government, Jean Chrétien, said that before in 2003, he approved Carney’s appointment for Deputy Governor Bank of Canada in 2003, he asked him why he wanted to be a bureaucrat in Ottawa after working on Wall Street.
“Carney said he wanted his daughters to grow up as Canadians, that he made enough money. He also said” I believe in public service, “and I think it was a measure of his character,” Manley said.
Carney has returned to this topic during his great moments during his career. In what has become known as the “horizon tragedy” speech In 2015, Carney warned that climate change would lead to financial crises and a decline in living standards, unless the companies were no longer alleviated by its influence.
In his book 2022 Values: The construction of a better world for allCarney claimed that financial markets should maximize the value for the largest number, not elite few.
Carney’s career was not without controversy. As the first non-Britan person to become Governor of England in 2013, he found himself involved in a bitter discussion of Brexit after warning of the economic impact of EU abandonment.
Carney criticized the vote campaign for what they claimed to be political interference. Then the conservative MP Jacob Rees-Mogg invited him to resign from the central bank.
Carney’s management style, meanwhile, is described as confrontation.
“Shouting? Look, I. . . Try to maintain high standards within the institution, and my style as a whole is delegated whenever possible, “Carney told the Financial Times in December 2015. He did not agree to an interview with the FT ahead of these elections.
Carney’s financial background also attracted criticism. He spent 13 years in Goldman Sachs in New York, London and Tokyo. But his time as a chairman in the Brookfield Asset Management, monitoring $ 1 in the property, was a focus for the attacks of the Conservative Party.
At the time of renewed patriotism, Brookfield’s decision to move his headquarters from Canada to New York, while Carney was chairing under fire. On Sunday Poilievre, a conservative leader, published connection to ft -a investigation in Brookfield -ov opaque real estate portfolio.
Robert Asselin, former economic adviser to V “Optional, still facing a significant uphill.”
