EU leaders say trade deal with Canada has been finalized

Economic IndicatorsAssociated Press

European Union leaders say a major trade agreement with Canada has the backing of all 28 EU countries after last minute opposition from Germany had threatened to scuttle the deal.

European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy gave those assurances Friday alongside Prime Minister Stephen Harper at a press conference to announce the closing of five tough years of negotiations.

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German opposition to the deal had resurfaced on Thursday, over concerns it could not support the clause that allows private companies to sue governments.

However, Barroso said that opposition has since been quelled and all the official communications they've received from Germany "were absolutely in favor of this agreement."