‘True Finns’ Threaten EU Bailout Plans
Quote:
In theory, a new Finnish government that is opposed to further bailouts of euro-zone countries could prevent new rescue loans, since they have to be agreed unanimously by all euro members.
“It is outrageous that countries which have governed their economy badly are now putting their problems and debt on to Finnish taxpayers, that is not our duty to take on,” Mr. Soini says.
Anger at the bailouts has been a factor driving a rise in support for the right-of-center National Front in France’s recent local elections, and contributed to the weak performance of Germany’s governing parties in recent state elections.
So far, Finland has committed to guarantee almost €8 billion related to the European Financial Stability Facility (EFSF), and further guarantees and investments of €12.58 billion related to the European Stability Mechanism (ESM), which is planned to begin functioning in 2013. Finland has also given a €1.48 billion loan to Greece, a €160 million loan to Iceland and promised a €324 million loan to Latvia.
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http://blogs.wsj.com/source/2011/04/...bailout-plans/
Hope they win, have to vote tommorow.
So the Finns have allready a comitment of 25 billion Euros to this crisis and when Spain and Italy go what then?
I think Finlands budget is something like 50-60 billion but guess sky is the limit in holding on to an unhealthy currency.
