June 14, 2012 / 10:37 PM / in 5 years

Canada says ready to act if big external shock

OTTAWA (Reuters) - The Canadian government believes Europe has enough resources to deal with its debt crisis, but it stands ready to act if things take a serious turn for the worse, a spokesman for Prime Minister Stephen Harper said on Thursday.

The spokesman, Andrew MacDougall, was asked what Canada’s response would be if the June 18-19 summit of the Group of 20 large economies issued a call for collective action to help Europe, or to deal with the consequences of the Greek election.

“If there is a severe event...Canada would be prepared to consider its options,” MacDougall told reporters. “What the prime minister has said, if there was further deterioration or an external shock, that Canada would be ready to act. And he said a number of things that Canada could do, but our opinion now, is that as the situation stands now, that Europe is able to handle it.”

Reporting by Randall Palmer; Editing by Peter Galloway

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