December 9, 2011 / 7:23 PM / 6 years ago

European leaders must make more progress: Canada

1 Min Read

TORONTO (Reuters) - European leaders have made progress over the last two days in their efforts to settle a debt crisis but they must go further, Canadian Finance Minister Jim Flaherty said on Friday.

Europe secured a historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday.

"They've made progress in the last two days in Europe. I think they need to go farther. We think there needs to be monitoring of those countries that have sovereign debt issues that are critical," Flaherty told reporters in Toronto.

"We think also that Europe has to demonstrate that it has used all its resources before it calls on countries outside of Europe, including contributions by countries at the IMF."

Reporting by Claire Sibonney and Jennifer Kwan, writing by David Ljunggren

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