News Summary

Author: Unknown
Published on: 07/01/2025 | 00:00:00

AI Summary:
Justin Trudeau abruptly resigned after a long and steep decline in his popularity. The driving factors behind his downfall include the soaring cost of living and housing, as well as rising immigration, but the final political blow was the resignation of his powerful and loyal Finance Minister Chrystia Freeland. Mark Carney was considered just that in 2012 when he became the first foreigner to serve as governor of the Bank of England since the institution's inception in 1694. Carney is widely credited with helping Canada dodge the worst of the 2008 global economic crisis and helping the UK manage Brexit. The recently resigned Freeland, meanwhile, is another frontrunner. A new Canadian prime minister is unlikely to be named before Trump's inauguration on 20 January. The US president-elect has repeatedly referred to the country as the US' "51st state" he has threatened to impose 25% tariffs on all Canadian goods.

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