Guten Abend
Here is my take on it. If you speak German you are ahead of a lot of guys. The majority of German carriers insist on you having to speak German. That immediately rules out quite a lot of low houred guys.
With Intercockpit there is quite strong links with Condor, Lufthansa Cityline, Fly Niki and of course AirBerlin. And if that does not work you have the other side of the market, that being Ryanair, Easy, Flybe, Jet 2, etc etc.
If you gain a Canadian licence you will most likely be flying light aircraft until you hit 1000 to 2000 hours and then you will be in line to perhaps be lucky enough to fly for one of the Regionals for a few years, and work from there. Absolutley nothing wrong with that either.
Its just about where you want to be and what way you want your future career to progress.
I am not sure how the market is really progressing in Europe, it seems to be picking up a little bit, but how will it really look in 2 to 3 years time? I dont know..
A good guy to ask is WWW.