Canadian Prime Minister Mark Carney’s rapidly deepening relationship with Europe is being portrayed as part of a much bigger geopolitical and financial realignment, with one commentator arguing that Canada’s vast natural resources are ultimately at the centre of the shift.
In a widely shared social media post, the Northern Sceptic begins with a stark assessment: “Europe’s financial and banking system is about to collapse due to insufficient collateral.” From there, the post links the financial pressures facing Europe with the war in Ukraine, arguing that the conflict “was meant to collapse Russia and take its resources for the needed collateral.”
With Russia remaining intact and its resources beyond Western control, the commentator says attention has instead shifted across the Atlantic.
“The war in Ukraine failed, so the EU sent banker Mark Carney to Canada with a mission: break Canada’s ties with the US and bring it into the EU, effectively putting its vast resources under Brussels’ control,” the post states.
Carney’s background is central to that interpretation. Before entering frontline Canadian politics and being installed as PM, the Rothschild henchman headed both the Bank of Canada and Bank of England and subsequently occupied prominent positions in international finance.
The Northern Sceptic argues that Carney’s political strategy began with the 2025 Canadian election, saying he expected to secure the parliamentary majority needed to pursue his agenda. “He initially failed, but then used back doors to achieve that requirement,” the commentator writes.
🇨🇦🇪🇺 I will condense my many tweets on the subject here:
– Europe’s financial and banking system is about to collapse due to insufficient collateral.
– The war in Ukraine was meant to collapse Russia and take its resources for the needed collateral.
– The war in Ukraine failed,…— Northern Sceptic (@NSceptic11501) August 24, 2026
Attention then turns to the increasingly bitter relationship between Ottawa and Washington. Following the collapse of recent trade negotiations, Carney has described the dispute in terms of being at “war” after Canada was “attacked,” while his government is imposing retaliatory tariffs against US goods.
That confrontation is not an isolated trade dispute but part of Canada’s movement away from the United States. The post claims Carney “manufactured a crisis with the US with rhetoric such as ‘being at war’,” creating the political conditions for a closer embrace of Europe.
There is no question that the European pivot itself is occurring. Carney has described Canada as “the most European of non-European countries,” while declaring that Canada is “transforming our cooperation with Europe.” Canada has also become the first non-European participant in the EU’s SAFE defence procurement initiative and has expanded cooperation with Brussels across critical minerals, energy, technology, trade and security.
The Canadian government itself says the relationship is moving “ever closer” to Europe, while its strategic partnership with the EU explicitly envisages deeper cooperation covering supply chains, defence, digital policy and regulatory alignment.
Those developments form the basis of the central argument: Canada’s growing confrontation with Washington and simultaneous integration with European economic and security structures should be viewed together rather than as unrelated events.
“Mark Carney is now talking about linking up Canada with the EU,” the post concludes, before delivering its blunt verdict to Canadians: “Folks, you have been played.”
