by Mike ‘Mish’ Shedlock
The Belgium Parliament is in an emergency session over a collapsed Trade Agreement between the EU and Canada.
The agreement, called CETA was five years in the making and has spent another 2 years seeking EU ratification. It is held up because a portion of Belgium will not go along.
EU leaders warned that critical discussions in Brussels on Friday could determine the fate of Europe’s trade policy as they stepped up frantic efforts to persuade a regional parliament in Belgium to lift its veto on a deal with Canada.
Charles Michel, Belgium’s prime minister, said he was “not reassured” by emergency talks overnight with the leaders of his country’s Walloon region and Justin Trudeau, his Canadian counterpart.