Europe may already be in recession: Flaherty

George25

Reuters
4:37 PM, E.T. | November 1, 2011
International
http://www.bnn.ca/News/2011/11/1 ... ssion-Flaherty.aspx

Tags: European Union, euro zone
Europe may already be in a recession, or at least on the verge of entering one, Finance Minister Jim Flaherty said 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.