Friday, March 25, 2011
The no confidence vote in Prime Minister Stephen Harper’s Canadian government is expected to start momentarily. Just like two days ago when Portugal fell, this event will likely be seen as a buying opportunity of both the USDCAD and the CADUSD. After all – there are trillions in excess liquidity sloshing around which must be put to use even if in mutually offsetting trades. Follow the event live at the following webcast from CTV.
As a reminder, from CBC.CA, here is what is going on in the northern neighbor.
The federal government is expected to fall from power Friday afternoon, with opposition MPs saying they’ll vote to show they’ve lost confidence in the Conservatives.
The Liberal Party gave notice earlier this week they’ll put forward a motion of non-confidence in Prime Minister Stephen Harper and his government. If it passes, the government will fall and Canadians will head to the polls.
The motion says the House agrees with a committee report tabled earlier this week that found the government in contempt of Parliament, “which is unprecedented in Canadian parliamentary history, and consequently the House has lost confidence in the Government.”
It comes after Liberal Leader Michael Ignatieff, NDP Leader Jack Layton and Bloc QuĂ©bĂ©cois Leader Gilles Duceppe said their parties wouldn’t vote in favour of the federal budget tabled Tuesday. The government can fall if they lose either vote.
This article was posted: Friday, March 25, 2011 at 10:51 am