Carney Does Canadians Proud
Past President of the Canadian International Council (CIC).
Well-known and highly respected in Canadian circles, Mark Carney’s name gained international recognition when he became chair of the G20’s Financial Stability Board last year. The Governor of the Bank of Canada makes Canadians proud whenever the global spotlight turns on him, most recently during an interview on BBC’s HardTalk. HardTalk hosts are known for their fast-paced, dry-witted and somewhat belligerent style, and the show puts high profile guests in the hot seat. Don’t miss this episode. While interviewees tend to become flustered as the hosts talk circles around them, Carney is a rock. Calm, collected, and articulate, he answers all questions thoughtfully, and without dodging a single one, demonstrating that a strong response does not preclude a dignified and respectful demeanor.
The episode was particularly timely in light of German Chancellor Angela Merkel’s visit to Canada the following week. Both Carney and Merkel reminded Canadians that Europe’s crisis is very much our concern.
As Canada’s foremost international financial figure, Governor Carney stakes out his positions on financial issues both foreign and domestic in a thoughtful manner, and stands behind them - whether calling for a truly global financial system to underpin Europe’s recovery, defending Canada’s interest in saving Europe’s common currency, or refusing to blame the high Canadian dollar for our manufacturing sector’s woes. Many watch our Central Bank Governor closely as he directs a monetary policy that balances the relatively strong pace of Canada’s economic growth against the needs of many of the world’s economies for more stimulus.
Mark Carney’s international stature gives Canada prestige and possibly even leverage in international financial discussions. A new brand seems to be emerging for our resource-endowed middle power country, a brand with a strong potential investment-inducing flavor. While keywords such as secure, stable, and solid may not be sexy, there will likely be little appetite for titillation in financial circles after the goings-on in international financial markets since 2008.
Rumours have floated across the Atlantic that Carney is being considered to fill the position of Mervyn King, outgoing Governor of the Bank of England. Canadians should be proud to hear that one of our best and brightest may be on this shortlist, but are no doubt also relieved by reports by the CBC and others that Carney is ruling out the Bank of England post. Our Governor is proving to be an invaluable brand-builder in his international role as well as a responsible Central Bank Governor in his domestic one.
Photo courtesy of Reuters