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Europe on brink of crisis: Canada

business Updated: Dec 23, 2011 21:13 IST

Europe is on the brink of a very serious crisis and its politicians have failed to take the necessary steps to solve a raging debt crisis, Canadian finance minister Jim Flaherty said on Thursday.


His comments were among the gloomiest made by Canada’s Conservative government, which has expressed increasing frustration at the way the Europe is handling its problems.

“It’s on the brink of a very, very serious crisis. The Europeans have failed to take the necessary action. They have taken some steps, but it’s belated, and it’s incremental,” he told the Canadian Broadcasting Corp.