MR. MULRONEY'S WORDS:
"You had an option, Sir. You could have said "I'm not going to do it. This is wrong for Canadians and I'm not going to ask them to pay the price.'
"You had an option, Sir. You had an option to say "No.' You chose to say "Yes'.
"If I may say respectfully, that is not good enough for Canadians"That is an avowal of failure""
"You had an option, Sir. You could have done better."
Mr. Campbell, you too have an option.
The CBA repeatedly has said that it is opposed to FATCA but must comply. To do so, the CBA is advocating an IGA which would allow -- indeed, mandate! -- that Canadian banks violate rights of Canadians based on one basic factor: their place of birth.
If we may say so respectfully, Mr. Campbell, that is not good enough for Canadians!
You have the option to say "NO" to FATCA.
If you say "Yes" to an IGA, it is an avowal of failure.
"You have an option, sir. You could do better."
Please don't capitulate to U.S. demands!
There are small, weak countries in the world that, when confronted with threat of illegal reprisal by a powerful foreign state for not surrendering their sovereignty and abrogating their citizens' rights, have no choice but to capitulate.
Canada is not one of them. True, Canada is not so powerful as the United States. But neither is she small or weak.
The CBA states: "[T]he financial services industry has not capitulated and we are not enthusiastic about an IGA."
The U.S. Treasury Department does not demand Canada's enthusiasm, just Canada's obedience. An IGA is exactly the capitulation they demand.