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Debt crises could become ‘too big for Europe to solve’: Flaherty

http://www.thestar.com/news/canada/politics/article/1070994--debt-crises-could-become-too-big-for-europe-to-solve-flaherty
Europe nearly out of time to stop global crisis: Canada
Asked about German Finance Minister Wolfgang Schaeuble's warning on Monday that there would be no definitive solution at this weekend's meeting, Flaherty said he was "disappointed."
"This situation does not improve with time. This is not a fine wine," he said.
Flaherty said Europe must take action to resolve sovereign debt and banking system issues -- including recapitalizing banks -- that proves decisive enough to overwhelm the problem and restore market confidence
http://ca.reuters.com/article/businessNews/idCATRE79G3F820111017