Mark Carney, a highly regarded economist and former banker has emerged as the frontrunner to succeed outgoing Prime Minister Justin Trudeau, with the Liberal Party set to announce its new leader on Sunday.
Carney had earlier gained attention for comparing former US President Donald Trump to Voldemort, the infamous villain from the Harry Potter series.
“When you think about what’s at stake in these ridiculous, insulting comments of the president, of what we could be, I view this as the sort of Voldemort of comments. Like I will not even repeat it, but you know what I’m talking about,” Carney said, condemning Trump’s threats to make Canada the 51st US state, at the King’s Head Pub in Winnipeg last month..
“I think that Americans built their social safety net with enormous holes in it, that tens of millions of people fell through,” Carney said, NBC News Canada reported.
“The Americans worshipped at the altar of the market and the gains were not spread across that society, and now there’s a backlash. There’s a backlash, and that backlash is leading to them pushing out against us,” he further added.
Carney, who earned recognition for guiding Canada through the 2008 financial crisis whilst serving as the Bank of Canada’s governor has vowed to impose dollar-for-dollar retaliatory tariffs targeting areas that would hit Americans the hardest.
“Canada will not bow down to a bully,” he said on Tuesday.
“In the trade war – just like in hockey – we will win,” he added referring to the politically charged 4 Nations final between the US and Canada two weeks ago.
Who is Mark Carney?
- Mark Carney, 59, is a highly regarded economist and former central banker who has led both the Bank of Canada and the Bank of England, earning a reputation for steady leadership during times of financial crisis.
- Born in a small town in Canada’s Northwest Territories, Carney pursued higher education at Harvard, where he was a backup goalie for the Crimson’s hockey team during his undergraduate years, before continuing his studies at Oxford.
- His career trajectory saw him navigate major economic crises, first as the head of Canada’s central bank, where he played a key role in the country’s swift recovery from the 2008 financial meltdown, and later as the first non-citizen to lead the Bank of England since its founding in 1694.
- His appointment in the U.K. received bipartisan praise, reflecting confidence in his expertise and leadership.
- The former banker, who served as managing director of investment banking at Goldman Sachs in the early 2000s, has gained significant momentum since entering the leadership race in January.
- Justin Trudeau resigned in January after a turbulent period in
Canadian politics , during which his former finance minister accused him of failing to take tariffs seriously. - His resignation, driven by declining approval ratings amid economic strains and rising immigration, has turned the upcoming leadership vote into a referendum on Canada’s ability to manage its increasingly tense relationship with US.
- While Trump’s hardline trade policies and remarks about making Canada the “51st state” have fueled nationalist sentiment, leading to US anthem boos at sporting events and a growing boycott of American goods. The backlash has given the governing Liberals a boost in the polls ahead of a likely snap election.
