Europe on brink of very serious crisis: Flaherty

Thu Dec 22, 2011 6:37pm EST
 
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OTTAWA (Reuters) - 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.

(Reporting by David Ljunggren; Editing by Dan Grebler)

 
<p>Canada's Finance Minister Jim Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa December 14, 2011. REUTERS/Chris Wattie</p>