Canada says maybe Europe should give up euro zone

Mon May 14, 2012 5:30pm EDT
 
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OTTAWA (Reuters) - If European countries are not prepared to bail out fellow euro zone members, maybe they should just abandon the whole concept of a common currency, Canadian Finance Minister Jim Flaherty said on Monday in some of his most direct remarks on the issue.

"This is a time of crisis in the euro zone. The whole future of the euro zone is up for grabs, and this is very important for many of the euro zone member countries, given the history of Europe in the last 100 years or so," Flaherty told CTV television.

"So they have to show courage. They have to do the right thing, use some of their taxpayers' money to bail out some of the weaker members of the euro zone - or start moving away from the euro zone and just say this was an experiment that has not worked."

(Reporting by Randall Palmer; Editing by Peter Galloway)