Go for it, I'm nearly 29 and have come from the U.K to do my training (cheaper over here), having spent many years talking about it and saving.
Definately more jobs in Europe, as long as you pass your tests and stump up your $40,000 type rating money, Ryanair for one will take you on after 200 odd hours straight into a shiny new 737-800 (I have a friend in his 40s that did this). I, like you would rather make a career in Canada, but you'll have to consider that towards the end of your training as things can change, the aviation boom in Europe was a direct result of the huge demand for low cost air travel. Canada is yet to experience this, but surely it's just a matter of time and when it does, the current 'pecking order' of pilots will not be sufficient to meet it, so hour requirements will fall.
Just my opinion, personally I'm gonna do all my training here and then convert to JAA if I decide to go back to Europe, but I'm hoping a low cost boom develops in the mean time because I really kinda like it here.
Good luck
