ieExplains: Who is Canada's new PM Mark Carney and why is he giving up his Irish citizenship?
Mark Carney speaks after being announced as Canada’s next prime minister. Picture: Sean Kilpatrick/The Canadian Press via AP
Former central banker and Irish citizen Mark Carney will become Canada’s next prime minister after winning a Liberal Party leadership vote in a landslide.
Mr Carney is 59. He was born in Canada — in Fort Smith, Northwest Territories, on March 16, 1965. He was raised in Edmonton, Alberta.
Mr Carney ran the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020. After helping Canada manage the worst impacts of the 2008 financial crisis, he was recruited to become the first non-Brit to run the Bank of England since it was founded in 1694.
In 2020, he began serving as the United Nations’ special envoy for climate action and finance.
Mr Carney is a former Goldman Sachs executive. He worked for 13 years in London, Tokyo, New York and Toronto, before being appointed deputy governor of the Bank of Canada in 2003.
He has no experience in politics, however, he has served as an economic adviser to Justin Trudeau, the outgoing prime minister.
Mr Carney received a bachelor’s degree in economics from Harvard University in 1988, and master’s and doctoral degrees in economics from Oxford University. Like many Canadians, he played ice hockey, serving as a backup goalie for Harvard.
Mr Carney has Canadian, Irish and British citizenship. His family has roots in Co Mayo.
However, last month, the Canadian Broadcasting Corporation reported that he has begun the process of renouncing his citizenship in Ireland and Britain. Mr Carney told reporters he believes that as prime minister, he should hold only one citizenship.
The move is not required by law but is seen as politically wise.
According to Politico, he hung a small map of Co Mayo by his office door at the Bank of England in honor of his grandfather, who emigrated from there to Canada.
His wife Diana is British-born and he has four daughters.
Mr Carney is expected to trigger an election soon and his chances of remaining prime minister for more than a few weeks seem to be improving.
In a mid-January poll by Nanos, the Liberals trailed the opposition Conservatives and their leader Pierre Poilievre 47% to 20%. This week the latest poll has Liberals at 34% and the Conservatives at 37%.
An election must take place on or before October 20.
