Flaherty urges Governments to tackle the fiscal woes

WASHINGTON  - the Minister of Finance of the Canada has warned on Wednesday that countries need get their fiscal houses in order, saying that the markets would be if politicians did not.

Costs of rascals parties left for a majority Conservative Government to the Canada, Jim Flaherty, said the 2007-09 financial crisis has shown that markets would show what must be done if Governments do.

"It is important for us all... we have a plan in place to ensure that markets are comfortable and have confidence in the budget plan of our Governments," Flaherty said to journalists on the sidelines of a business conference in Washington.

Administration of Obama, the Democrat and Republican legislators have the evil to come with a plan to reduce the deficit of 1.4 trillion of the nation and to slow the growth of its public debt of $ 14 billion.

Although the White House has proposed $ 4 trillion reduction of the deficit to be gradually over 12 years or less, there is no plan closes in place and the administration is far from reaching an agreement with legislators.

Flaherty, who prepares for meeting with U.S. legislators, refused to comment specifically on the budget U.S. struggle.

But he said that the recent history of the Canada shows that "we can spend time of dramatic deficits... to a period of stability and strength with a good plan for the future."

The Canada Conservative Government has pledged in the election to eliminate the budget deficit in 2014 - 2015. Flaherty plans reveal a budget in June is largely similar to the one he had proposed in March before his Government was overthrown.

Flaherty, stated that the budget for June will take into account the commitment of his Government to compensate the francophone province of Quebec for the harmonization of federal and provincial sales taxes.

The Government objective is "to obtain an agreement with Quebec finalized by 15 September", he said.

Separately, Flaherty stated to the Council of the Americas Conference that he did not believe a weak currency, despite the recent drag of a strong Canadian dollar on exports.

He said also Canadian interest rates will rise eventually, and while he was uncertain of the source of the next financial crisis, it wants to ensure that the plans of Government of the Canada for the tax room respond.