- Reaction score
- 35
- Points
- 560
Re dual citizenship, I'm pretty sure that an angry and vengeful Canada will put a quick end to that. If Quebec wants to set it's own path, then fine, but they have also given up the ability to access the rights and privileges of being a Canadian while doing so.
WRT using Canadian currency, there is actually nothing to stop an Independent Quebec from doing so. Indeed, there is nothing to stop Ukraine from doing so either, if they so desired. The sticking point in adopting and using a foreign currency is that the adopter has no say in the issuing nation's Fiscal or Monetary policy.
This could have counterintuitive effects. Since Quebec could be expected to continue to offer massive social programs and government spending even after a UDI, they might suddenly discover they are suffering deflation and a depression as the amount of money is not sufficient to cover the extravagant amount of promised goods and services. This is the opposite of the usual inflationary problem, where too much money is in the system, being used to bid up a static or more slowly growing pool of goods and services. Of course that sort of problem solves itself if left alone, but historical experience from the Great Depression and understanding the desire of Quebec technocrats to meddle suggests that in this hypothetical case, the Quebec Depression will be very long and hard (the worst year of the Great Depression was 1938, a full 9 years after the 1929 "crash" and a direct result of "New Deal" meddling with the American economy).
One can imagine a future Conservative government slowly turning the screws by adopting a balanced budget policy and implementing a 10 year plan to pay off the debt, for the benefit of Canadian taxpayers...
WRT using Canadian currency, there is actually nothing to stop an Independent Quebec from doing so. Indeed, there is nothing to stop Ukraine from doing so either, if they so desired. The sticking point in adopting and using a foreign currency is that the adopter has no say in the issuing nation's Fiscal or Monetary policy.
This could have counterintuitive effects. Since Quebec could be expected to continue to offer massive social programs and government spending even after a UDI, they might suddenly discover they are suffering deflation and a depression as the amount of money is not sufficient to cover the extravagant amount of promised goods and services. This is the opposite of the usual inflationary problem, where too much money is in the system, being used to bid up a static or more slowly growing pool of goods and services. Of course that sort of problem solves itself if left alone, but historical experience from the Great Depression and understanding the desire of Quebec technocrats to meddle suggests that in this hypothetical case, the Quebec Depression will be very long and hard (the worst year of the Great Depression was 1938, a full 9 years after the 1929 "crash" and a direct result of "New Deal" meddling with the American economy).
One can imagine a future Conservative government slowly turning the screws by adopting a balanced budget policy and implementing a 10 year plan to pay off the debt, for the benefit of Canadian taxpayers...