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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...

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Spain Shuts Airspace to U.S. Warplanes, Deepening Rift with Washington

 

                            No US planes involved in the Iran war will be allowed to enter the Spanish FIR

Spain’s decision to block U.S. military flights marks a sharp escalation in diplomatic friction, signaling Madrid’s firm opposition to Washington’s Iran campaign and reshaping transatlantic defense dynamics.

Spain has intensified its break with Washington by formally closing its airspace to U.S. military aircraft involved in operations against Iran. The move expands earlier restrictions that barred American forces from using the jointly operated bases at Rota and Morón for missions linked to the conflict. Spanish officials, including Prime Minister Pedro Sánchez, have condemned the U.S.-Israeli strikes on Iran as an “illegal war,” emphasizing that Spain will not participate in or facilitate actions it views as violating international law. 

Foreign Minister José Manuel Albares confirmed that the ban now applies to all U.S. flights tied to the conflict, even those originating from allied countries such as the U.K. or France. He stressed that Spain aims to avoid any step that could escalate the war, a stance supported by the majority of Spaniards. 

The airspace closure forces U.S. aircraft to take longer, less direct routes, complicating logistics for operations in the Middle East. This follows weeks of tension, including threats from President Donald Trump to cut off trade with Spain over its refusal to support the campaign. Despite the rift, Spain maintains its broader defense cooperation with the U.S. under existing bilateral agreements, though it remains firm in distancing itself from the Iran conflict. 

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