An independent Quebec would want a spot on the Bank of Canada

Pauline Marois holds a press conference
Angelica Montgomery/CJAD

Parti Quebecois leader Pauline Marois says a separate Quebec would continue to use the Canadian dollar "for sure."

She repeated to reporters today that regardless of a "yes" vote in a referendum, Quebec would have a relationship with Canada similar to that found within the EU.

"You know, if you look at the European Union, each country has their own policy, but they accept to share their borders. Their money. They have the Euro."

While Canada could not prevent another country from using its currency, the Bank of Canada would still control the interest rates, the inflation rate and would be able to influence the value of the currency.

Marois says Quebec would also like a seat at the table. "It's important to have a place at this level. But if it is not the case...we will see," she says.

The European Union shares a common currency and a common monetary policy (control of the interest and inflation rates), but each separate country controls its own taxes and spending. Many experts believe this has contributed to the economic crisis in places like Greece and Spain.

But the PQ leader says English Canada has an interest in allowing Quebec influence within the Bank of Canada.

"Because we are eight million people living here in Quebec and we have an economy which is a rich one," she says.

Countries in the European Union also allow their citizens to travel and work in any member country, they maintain a common trade policy, and they hold a common parliament in Brussels.

Marois did not explain whether an independent Quebec would also seek any or all of these conditions.

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  • 30
  1. Ray S posted on 03/12/2014 12:22 PM
    Is there not a stipulation that would see an elected premier of a province removed by reason of insanity or mental incompetence?

    This joke has dragged on long enough. Time for the men in white coats to come to OUR rescue!

    First, it was no borders to welcome Canadian tourists - tourists in their OWN country!

    Now, it's seat on the Bank of Canada board as a sovereign nation.

    What next? Continued transfer payments? Oops - may have given the PQ 'brain' (and I use THAT term loosely) an idea...
  2. Kari posted on 03/12/2014 12:35 PM
    If someone was standing on a corner and yelling the ridiculous nonsense this woman is constantly spewing, I'm sure a call would be made to 911 reporting a person with mental issues.
    Is she for real? Better yet, are the people who listen to her and actually believe her, real?
    She really scares me.
  3. daemoncan posted on 03/12/2014 12:48 PM
    "Marois says Quebec would also like a seat at the table."

    Yeah, and I'd like a Tesla model S and a house in the Bridle Path neighborhood, but that's not very likely either.....

    The only way you get a seat at the table, is if you live in the house......
  4. First Up Jack posted on 03/12/2014 01:00 PM
    It is quite clear she wants her cake and eat too. She is going down in history as the delusional crackpot she is. A seat on the Royal Bank of Canada. She has got a nerve.
    1. JohnH- posted on 03/12/2014 04:46 PM
      @First Up Jack Jack it's not the Royal Bank of Canada. It's The Bank of Canada. This the bank that sets interest rates. Lends money to banks like the Royal Bank, Bank of Montreal, CIBC...
  5. JohnH- posted on 03/12/2014 01:24 PM
    Since all banks in Canada are Federally Chartered the first thing that would happen after Quebec would separate all the banks would close. This would prevent a run on the Canadian dollar. This is standard procedure around the world. That means no access to your money. Even bank machines. Credit card transactions would not be processed if your account is in Quebec. If we were lucky within a few days the banks would open for a few hours each day with a maximum withdrawal of a couple hundred dollars. Sound like fun so far? Best thing open a bank account outside Quebec. Better safe then sorry.
  6. Realist posted on 03/12/2014 01:58 PM
    I would like to congratulate Premiere Péladeau on redirecting the conversation of this election towards independence.

    We now hear how the province would act as an independent nation. I would like to say however a la Bill Clinton it's the economy stupid. The statements being made are all pipe dreams of meglomaniac porportion. How does an independent Quebec expect to get around the 8 billion in transfer payments that it would no longer get? Quebec wants to be treated as an equal on the international stage when it can't seem to deal with the economy that it has.
  7. LMAO posted on 03/12/2014 02:10 PM
    "Because we are eight million people living here in Quebec and we have an economy which is a rich one," she says.

    Marois would probably also like to continue to receive the transfer payments as well, so they can continue to fund their "RICH ECONOMY". They might want to borrow the army too if they need protecting.
  8. walt posted on 03/12/2014 02:32 PM
    let me get this straight , Quebec controls its imigration , it controls its langauge through education , it controls its own taxes through revenue quebec , quebec controls pretty much its own policies . Quebec is considered a nation inside Canada . so how does this differ from the EU ,oh lets not forget and it receives transfer payments from the richer provinces ( even though she states "quebec economy is a rich one" ) just like Greece and Spain .
    Interesting way of looking at the same thing in a different way ! boy are we in trouble !
  9. tom posted on 03/12/2014 02:39 PM
    I love how apparantly Canada has no say in, well, anything, and even as a seperate country Quebec STILL has the right to dictate the terms unilaterally. LOL.

    Seriously, these people are literally insane, and I am so deeply disturbed that such a disorganized, dishonest and scattered rabble are top contenders to form our government. And this is all kept so hush hush internationally and even within Canada that most people think the situation has to be 90% made up, too extreme to even consider.

    *Looks at the greener grass very, very seriously.*
    1. Karla Liebrandt posted on 03/13/2014 11:18 AM
      @tom Yep, my BF and I are seriously looking towards Ontario.
  10. Gord posted on 03/12/2014 02:42 PM
    Two points:

    1. But the PQ leader says English Canada has an interest in allowing Quebec influence within the Bank of Canada.

    Point: Don't you already have this influence by staying? Wouldn't leaving leave this to chance?

    2. "Because we are eight million people living here in Quebec and we have an economy which is a rich one," she says.

    Point: Say what? A rich economy? Where? In Quebec?
  11. Joseph posted on 03/12/2014 03:23 PM
    This woman loves to dream.
  12. Drew posted on 03/12/2014 03:46 PM
    "Because we are eight million people living here in Quebec and we have an economy which is a rich one," she says.
    What fairy tale book did she get that from. we lost 26000 jobs last month and we are 7 out of 10 provinces. May be she should have said .
    " Because we are 8 million people living here in an Independent Quebec who's economy is rich compared to 3rd world countries" but 7 out of 10 in Canada a rich Nation
  13. chuck posted on 03/12/2014 03:46 PM
    I think pauline marois is dreaming if she thinks an independent quebec will set monetary policy in canada thru a seat at the bank of canada. I believe she has no idea about anything and is just talking and does not know enough to shut her mouth.
  14. Ryan posted on 03/12/2014 03:50 PM
    I think she got all her info on the EU in a (140 characters or less) tweet.
  15. Sam posted on 03/12/2014 05:08 PM
    Peladeau referred to other pending referenda situations for legitimacy ie Belgium/Flanders, UK/Scotland and Spain/Catalonia. He left out France/Corsica and most imminently Ukraine/Crimea . Why and what is the Parti Quebecois position on the upcoming Crimean referendum?
    1. TPicard posted on 03/13/2014 11:30 PM
      @Sam Does PFK know about Crimea? . The Bank of Canada is called that for a reason. I guess if PFK and Marois can run the parti of "social democracy", words no longer have any real meaning or value , in English or French
  16. Steve W posted on 03/12/2014 06:01 PM
    Do they make this stuff up as they go along? If the premier does not realize that by separating from Canada they forfeit any right to demand anything from the rest of Canada, she's insane. And no, you don't get to independently decide that you'll keep the currency, the army, postal system, infrastructure, or a seat at the table with the Bank of Canada. By the way, any land deal agreements in place with our indigenous people were signed with Canada, not Quebec, so a few Quebecois might be looking for a new place to live. It's a nice change to read about a crazy politician that doesn't have a last name of "Ford".
    1. al posted on 03/14/2014 08:26 AM
      @Steve W I had a nightmare last night that Quebec wanted my Canada passport so they can give me a Passport Quebec... I am screeming no no I will never give up my Canada passport...Please call Canada..
  17. wluis posted on 03/12/2014 06:09 PM
    According to the separatist, there is a problem being Canadian.
    What are these problems?

    They don't mind people from English Canada visiting Quebec, if Quebec were to leave. Are we suppose to force them to talk french to us?

    They say, by separating, the currency will be stronger. We are using the same dollar.
    How is that suppose to work?

    What is the point of separating if you want tourism from English Canada and You want to use the same dollar.

    The people that vote for separatism, should wake up and realize, is that the P Q, is jeopardizing all our invested time and money for nothing.

    It's all just to get some of their names in the history books. 20 people in the history books, the rest of us will be lucky if our grand kids remember us.
  18. Tom Spiegler posted on 03/12/2014 09:58 PM
    So much entertainment!

    Why doesn't Mme dream even bigger, and use the US dollar? She could take a seat, representing a sovereign nation and dictate US monetary policy to.

    I am waiting for the popping sound of her imploding...
    1. daemoncan posted on 03/13/2014 10:54 AM
      @Tom Spiegler Well put. I would add to that these facts:

      Several foreign countries use the US dollar as their sole currency.
      None of them have a seat on the US Federal Reserve or Treasury board.

      Mme. Marois is fond of cherry-picking stats & facts from countries around the world who happen to have a policy or two that fits her agenda. Her most recent example being the EU.

      The difference is the EU is a group of countries that came together to simplify & strengthen, trade & fiscal policy. What Mme. Marois is proposing happens to be the exact opposite, but that's Quebec for you....
  19. Joe posted on 03/12/2014 10:06 PM
    Oh and I am sure the ROC will OK this pipe dream, and the federal question will go like this to its citizens., (After all the federal government has to ask the ROC if they are willing to allow this pipe dream of hers)
    Do you the citizens of Canada agree to have Quebec with its 8 million Quebec citizens to have a say in the economy of our country?
    I am sure we know the answer.
    This is one of things among others that the Feds have explain to Quebecers upfront so they understand that when the lifeline is cut, you get your share and make sure the door does not hit you on the way out.
  20. Metilda posted on 03/13/2014 08:24 AM
    SHAME on her! Misleading the French Quebec people with her deluded lies and fabrications. How can she dictate what CANADA will do, and what CANADA will tolerate from Quebec one separated from Canada. It's not up to Quebec to decide how and what Canada will or will not do. Quebec has a big chip on its shoulder. They want their cake and to eat it too. How do people not see through her BS and realize what she's saying and promising is out of thin air. Every since she came to office the province has taken a nose dive, not only economically but socially. She has brought hatred between the separatists and the Anglophone and Allophone Quebecers. Can't wait for her to appear and answer questions that she is obviously avoiding....
  21. Karla Liebrandt posted on 03/13/2014 11:12 AM
    What worries me most is that Philippe Couillard has not called her out on any of her insane statements. He should be on her case every time she opens her mouth. He is supposed to be a federalist, isn't he? Ontario is looking better for us as every day passes on.
  22. Gord posted on 03/13/2014 12:03 PM
    All this talk has me wondering something. If Quebec did succeed in leaving Canada, and continued to use Canadian currency, what would happen if Canada decided that the currency no longer continued to be bilingual?

    Would having only horrid English words on the currency mean that they would no longer want to use it? Guess they better start looking for a seat on the Currency Board of France if they want to continue this pipe dream.
  23. sam posted on 03/13/2014 12:46 PM
    I want a seat on the Bank of Canada too ... and the honoraria that come with it!
  24. George73 posted on 03/13/2014 05:15 PM
    I'd love to be vulgar and suggest that the PQ and its seperatist supporters need to understand that they simply will not be able to demand to continue to suck on the teet of the Canada cash cow. Of course, the PQ is used to sucking, party of leeches that it is. But I wonder how much sucking went on to get PKP on board. And by whom?
  25. Jim posted on 03/13/2014 06:51 PM
    I'm waiting for Marois to continue selling the fairy tale to the Québecois by telling them that their taxes will be cut in half because they wont have to pay Federal income taxes or that Québec will not have to worry about any major catastrophies (floods, train derailments, fires, earthquakes, etc.) because they will be able to receive emergency financial assistance from the rest of Canada. For someone who refused to use the name Canada when referring to the "Olympic Hockey Team" that won the Gold at Sochi, she is quick to use mention the Bank of Canada when she has to try to reassure potential voters for separation that everything will stay the same if they are to succeed. Does anyone actually believe that provinces (especially those in the west) will willingly allow Québec to have a controlling seat in regards to their financial future after Québec has spent the last several decades deliberately being a thorn in their side (believing that due to their uniqueness they can dictate terms for everyone else) and after deliberately breaking up the country? I think the people who blindly accept this, need medication as they are surely not lucid. The PQ are clearly showing that they will do or say anything to deceive and reassure people. Clear example of the end justifying the means. Do I really want to live in a place where the electorate are so narrowly minded and can be so easily swayed? There is no security in that; especially for my children who will be hit most by the fall-out.
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