EXCLUSIVE: Here’s why Canada joining the E.U. would be a bad idea
Some Canadian politicians and pundits have proposed forging closer ties with the European Union to offset Canada's ailing relationship with the U.S. due to tariffs.
Some Canadian politicians and pundits have proposed forging closer ties with the European Union to offset Canada's ailing relationship with the U.S. due to tariffs, but even a cursory look at the facts shows the grass is not always greener on the other side.
For starters, the E.U. is in an even worse situation when it comes to debt. As of early 2024, the average government debt in the E.U.’s eurozone countries rose to 88 per cent of their GDP, compared to Canada’s already high rate 76.2 per cent debt-to-GDP. Some countries within the E.U. are heavily in debt, including Greece (163%), Italy (137%) and Belgium (108%).