This is a vast subject. I would like to emphasize that the structure of the US economy is very different from that of the Canadian economy. For example, a shock on commodity prices, on natural resource prices, is a positive shock for Canada and an improvement in our terms of trade, but for the US economy, it is a negative shock.
It was the same thing after the Asian crisis: the impacts on our two countries were different. It is therefore important to be able to manage our economy according to the shocks felt, which are different. A fixed exchange rate within a common currency would mean that Canada's monetary policy would have to be the same as America's monetary policy. That is a fact.