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Persistent rumour and now contingency talks of how Finland can be ready to leave the Euro
Wednesday, 11 July 2012
The Finnish opposition and economics experts have put forward demands
that Finland should consider to what would happen if Finland did leave
the euro. A Finnish exit of the euro is talk of more in Finland and
their news editors are taking it seriously. Even the Prime minister has
spoken of doom but remain cautious with words.
If based on the way the purported prospective Finnish exit from the
Euro is being reported and analysed in the Finnish press was to be a
reason to believe that they will soon dump the Euro, then such
speculations could be taken seriously now.
Now the debate has been given a boost after the Finance Minister, Jutta
Urpilainen (SDP), told the paper, Kauppalehti that Finland is preparing
for all possible scenarios. Her phrase has been interpreted abroad as
she felt that a Finnish exit is possible.
As for the Hufvudstadsbladet paper, it writes that Urpilainen played
for the home crowd and that she probably was not thinking about that
comment, which was intended to have a calming effect in Finland, could
be interpreted differently overseas.
Then the Helsingin Sanomat brings the question open - with no fear or
favour - that is about what actually would happen if Finland were to
come out of the euro. What would be the foreign exchange market look
like? Would there be continue interest from the Euro zone countries to
invest in Finland and would it affect exports negative or positive?
The paper continues that the old truth of the Finnish EU policy is to
be where there is action and power. To withdraw from the euro
area is to leave the centre of power.
Lastly, the other peper, Turun Sanomat folloed the same lines and
say that there may be a more fruitful path to follow Commissioner Olli
Rehn and the Commission's service than to just focus on national
interests.
The above view for the press comes after the Finnish Prime Minister
Katainen (Nat) denotes the euro crisis at the current level as the
worst since May 2010. At that time, the Greek economy for the first
time looks close to collapse.
"Just like then now there is the danger of a catastrophe,"says Katainen in a comment to the paper, Helsingin Sanomat .
He is concerned that the trust between countries and people has
worsened and that the noises in this has hardened. Demands have been
raised on the government to have a plan ready for monetary union's
possible disintegration.
Katainen recognizes that a military crisis or natural disaster is easy
to prepare in comparison to the crisis that the euro's collapse would
bring.
By Scancomark.se Team
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