Canada's finance ministers were holding a teleconference Wednesday to catch-up and discuss the economic challenges facing the country.
The teleconference was meant to replace the usual summer meeting the federal, provincial and territorial ministers hold most years.
Federal Finance Minister Jim Flaherty was expected to update his colleagues on his recent trips to the G20 in Mexico and then to Ireland.
The focus remains on Europe's debt crisis and its possible effects on Canada.
Flaherty has said he is encouraged but the agreements Europeans have reached so far, but is stressing the need for them to be implemented quickly and comprehensively.
Flaherty was expected to remind the others that while Canada's economy remains in good shape now, that would almost certainly change if Europe falls further.
The Federal Government has been warning for some time that Canada could end up in the same type of crisis as Europe if deficit and debt levels aren't brought down — not just at the federal level, but provincial as well.
That message was expected to be repeated again on today's call.