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Speaking to European parliamentarians this afternoon, the prime minister says those economic uncertainties have percolated for years, but are now stoked by rising global inflation.

Trudeau says economic frustrations are threatening the stability of the world and driving a deep uncertainty about the future and distrust of government.

He also says democracies face a new threat from Russian President Valdimir Putin and his invasion of Ukraine.

Trudeau says Canada stands with the people of Ukraine as Europe confronts its biggest security threat since the Second World War.