Canada well-positioned to weather fallout from Brexit vote: Trudeau

Jun. 24, 2016 – Prime minister Justin Trudeau says Canada is well positioned to weather global market uncertainty in the wake of the United Kingdom’s dramatic decision to leave the European Union.

Trudeau said Canada shares deep historical ties and common values with the U.K. and the EU and will continue to build relationships with both as they forge a new relationship of their own.

“Canada’s connections to our partners around the world are among its greatest assets, and these relationships contribute greatly to the prosperity of all Canadians,” Trudeau said in a statement Friday morning.

“Canada has tremendous economic fundamentals that we are strengthening with key investments in infrastructure and measures to grow our middle class. We are well positioned to weather global market uncertainty as we have done in the past.”

The prime minister, foreign affairs minister Stephane Dion, finance minister Bill Morneau and former Conservative prime minister Brian Mulroney had all spoken out in favour of Britain remaining in the EU prior to Thursday’s referendum.

The British vote to exit the EU had an immediate impact in the financial world, with the British pound plunging to its lowest level in three decades and world stock prices falling.

British prime minister David Cameron, who had led the campaign to keep Britain in the EU, also said he would resign by October.

Trudeau thanked Cameron for being a close ally and good friend to Canada and wished him well.

News from © Canadian Press Enterprises Inc. 2016