by Mike ‘Mish’ Shedlock
Despite intense negotiations for the past two weeks, an emergency meeting of EU officials, huge pressure on Belgian officials, and last second agreement changes to the trade pact, the Wallonia region of Belgium held firm and vetoed CETA, the EU-Canada trade agreement that had been in the works for seven years, and finalized two years ago.
It is rather amazing that a French-speaking region of Belgium can single-handedly veto a trade agreement that 28 nations including Belgium itself wanted, but such is the state of affairs of EU politics.
Please consider Belgium Sinks EU-Canada Trade Deal After Wallonia Veto.
European trade policy has been thrown into disarray after Belgium’s government said it could not overcome regional objections to an EU-Canada trade deal despite weeks of fruitless talks to rescue the agreement.