In the case of Canada, this refers of a sovereign government but is left without the generous lending to the ability of the federal government to intervene on behalf of a fundamentals usually provided by a federation or monetary union. [...] Taking pre-emptive action to improve conditions The European Union Analogy for interprovincial trade and the ability for individuals to move freely The EU’s 2014 debt crisis provides a precedent to observe the fall-out amongst cities and provinces has been instrumental to improving the of a financial crisis in a monetary union (i.e., the euro). [...] Reaffirming Maintenance of long-standing transfer payment agreements are central to the responsibilities of each province and better defining the options each the preservation of how debt fundamentals are applied to the credit rating province has at their disposal to alleviate debt burdens may provide valued of both Ontario and Canada. [...] Though the the International Monetary Fund’s Research Department, Jonathan province has maintained a superior-grade credit rating,26 the economy Ostry, suggested that low interest rates are likely to be the norm and has exhibited signs of slowing, and the Bank of Canada is expected to as such there is little reason to adopt austerity measures to reduce debt begin a regiment of interest rate hikes. [...] This leaves little impetus—outside of opportunism and insurance of a negative impact on the economy than its immediate dollar value—as lower debt burden in the event of economic downturn—for governments the dollar would have otherwise been used to multiply value within the to begin a regiment of debt repayment.