Galway, Ireland, June 28, 2012

Archived - Finance Minister Cites Canada’s Strengths, Supports Action in Euro Zone

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The Honourable Jim Flaherty, Minister of Finance, today discussed the economic situation in Canada and urged European leaders to take all necessary actions to safeguard the integrity and stability of the euro area.

Speaking at the official opening of the Centre for Irish Economic Policy at the National University of Ireland, Galway, Minister Flaherty said, “Through Economic Action Plan 2012, our Government is continuing to create jobs, growth and long-term prosperity, while returning to a balanced budget in the medium term. Nevertheless, Canada is part of the world economy, and many obstacles to global recovery remain.”

The Minister noted that, after a brief hiatus in early 2012, market pressure has re-emerged, fuelled by concerns over Greece and Spain. “I am convinced that the countries of the euro zone understand fully the kind of measures that need to be taken, and their urgency,” he said.

“In spite of serious challenges, I believe that, given the political will, the necessary decisions will be made, the major difficulties will be resolved and the global recovery will strengthen,” concluded Minister Flaherty.

During his trip to Ireland, Minister Flaherty met with senior government officials including Patrick Honohan, Governor of the Central Bank of Ireland; Finance Minister Michael Noonan; and Joe Costello, Minister of State for Trade and Development. Minister Flaherty was also awarded an honorary Doctor of Laws degree from the National University of Ireland, Galway.

For further information, media may contact:

Mary Ann Dewey-Plante
Press Secretary
Office of the Minister of Finance

David Barnabe
Media Relations
Department of Finance

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