Reuters: Financial Services and Real Estate: Flaherty urges euro zone to take action on banks

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Flaherty urges euro zone to take action on banks Jun 7th 2012, 19:31 OTTAWA, June 7 | Thu Jun 7, 2012 3:31pm EDT OTTAWA, June 7 (Reuters) - Canadian Finance Minister Jim Flaherty urged European countries on Thursday to take action to recapitalize weaker banks and prevent a worsening of the euro zone debt crisis. "We have been saying for a long time that the Europeans need to move forward, create an appropriate firewall and capitalize those banks that are undercapitalized. That is within their power to do," Flaherty told reporters in Ottawa.

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