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Canadian Sovereignty and Dollarization

2002:08EM - Canadian Sovereignty and Dollarization

Whereas Statements

  • Whereas #1 The National Council of Women of Canada (NCWC) has long defended Canadian sovereignty.
  • Whereas #2 Canada must be cautious about further North American integration, as harmonizing policies with the U.S. could mean adopting American policies without control over future changes.
  • Whereas #3 The Argentinian peso was pegged to the U.S. dollar, which damaged Argentina's economy, showing the risks of dollarization.
  • Whereas #4 If Canada adopts the U.S. dollar, it could lose control over its economic policies, including trade, foreign affairs, military policy, pensions, healthcare, and labor rights.
  • Whereas #5 Adopting the U.S. dollar could weaken Canada’s parliamentary role in key areas like energy, immigration, and the environment, shifting decision-making power toward the United States.

Resolved Statements

Resolved #1 The NCWC adopts as policy that the Government of Canada should not make any changes that undermine Canadian sovereignty, especially by not adopting the U.S. dollar as Canada’s currency.

Resolved #2 The NCWC urges the Government of Canada to retain the Canadian dollar as its national currency and to reject the adoption of the U.S. dollar.

Resolved #3 The NCWC urges the Government of Canada to refrain from policy harmonization with the U.S. dollar or any form of dollarization that threatens Canadian sovereignty.