Concerned over the forecast of yet another recession, Canada’s Finance Minister Jim Flaherty has urged the European leaders to take stern steps to tackle the menace of recession. It has come to light that
if Europe didn’t controlled its financial crisis then soon the Canadian economy would become the victim of it.

During a television interview, Flaherty said, "The avoidance of a recession depends on the ability of the Europeans to take the actions they need to take”. While addressing to the banking sector of the

Concerns have been raised by the Canadian Finance Minister about the prevailing debt crisis in the Eurozone. Jim Flaherty is of the view that there need to be some concrete steps taken by the nation in order to overcome the issues in the economy of the nation, so that it can regain its lost poise and dignity. Eurozone has been dealing with financial problems for a while now and it is extremely essential they came up with something specific as a plan of action to get rid of their debt crisis.