Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Sunday, December 23, 2012

Policy trumps continuity in central bank head: Flaherty

Hinting that the next Governor of the Bank of Canada might not be picked from within its own ranks, Finance Minister Jim Flaherty says continuity matters, but it's not the main factor in the decision-making process.

In an interview with CTV Question Period host Kevin Newman, Flaherty was asked whether continuity is a big factor in finding a replacement for outgoing Governor Mark Carney.

"Continuity matters," Flaherty said, pointing out that Carney's replacement will be the third bank head during his time in government.

"But what really matters is to have a person who will maintain solid monetary policy and control inflation. Inflation is very dangerous."

Flaherty also noted that he and Carney have enjoyed a long working relationship, but admitted he did not try to keep him from taking the job as Governor of the Bank of England.

"He had made up his mind. And he’s entitled to make his own career choices," Flaherty said, predicting that, "he has a brilliant career ahead of him.

"He's done a great job for Canada and his influence internationally will be helpful to our country."

Carney will hold the reins at the Bank of Canada until June 1, 2013. He then has a month to cross the pond in order to take over the Bank of England’s top job on July 1.

Original Article
Source: ctvnews.ca
Author: CTVNews.ca Staff 

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