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There are numerous possible reasons the ' Yes ' campaign went down to defeat.
The economy of Quebec suffered measurably following the election of the sovereignist Parti Québécois and continued to during the course of the campaign.
The Canadian dollar lost much of its value and, during coverage of the dollar's recovery against U. S. currency, there were repeated citations of the referendum and political instability caused by it cited as cause for the fall.
Some suggest there were promises of constitutional reform to address outstanding political issues between the province and the federal government both before and since without any sign of particularly greater expectation those promises would be filled to any greater or lesser degree.
There remains no conclusive evidence that the sovereignty movement derives significant support today because of anything that was promised back in the 1970s.

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