In his famous article of 1961, Nobel Prize winner Robert Mundell not only provided the economic rationale underlying EMU, but also provided the criteria to assess, subsequent to the start of EMU, what types of behaviour and economic developments are needed to allow it to function properly.
That act, 128 years ago today, concluded the construction of the railway system upon which Canada was built. We are very lucky to have the last spike with us here today. Well, sort of the last spike. Every spike has a story. In actual fact, there were three spikes.