OTTAWA (Reuters) - Europe may already be in a recession, or at least on the verge of entering one, Canadian Finance Minister Jim Flaherty said on Tuesday.
Flaherty spoke to a parliamentary committee a few hours after the Bank of Canada repeated predictions Europe would enter a short recession.
"Europe is going through a very difficult time. It may well be in - or entering into - recession," Flaherty said.
Reporting by Randall Palmer, writing by David Ljunggren; editing by Rob Wilson