Europe on brink of crisis: Canada

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.

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.

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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.