Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Fortified by euro, Finns take bailouts on the chin
Reuters ^ | July 27, 2012 | Ritsuko Ando

Posted on 07/27/2012 7:03:14 AM PDT by george76

After dutifully abiding by EU fiscal rules, Finland's tiny population remains surprisingly phlegmatic about bailing out less disciplined euro zone members, and is mostly clinging on to its faith in the single currency project.

That faith has been tested as a succession of struggling nations make ever greater demands on the sounder economies in the currency bloc, but it is not yet at breaking point.

"We had to sort out our own problems ourselves in the past. That's why people are asking, do we have to help others?" said Maija Siirala, a freelance dressmaker and alterations specialist.

Finland, one of only four euro zone countries still boasting a triple-A credit rating, recovered from a financial crisis in the early 1990s without outside help, and the years of harsh austerity and debt repayments are part of the collective memory for many.

Now Finland must cough up 12.6 billion euros (9.7 billion pounds), which is equivalent to about 6 percent of GDP, for the European Stability Mechanism, the zone's permanent bailout fund.

(Excerpt) Read more at uk.news.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Germany; News/Current Events
KEYWORDS: bailout; bailouts; eu; europe; finland; finns; truefinn

1 posted on 07/27/2012 7:03:22 AM PDT by george76
[ Post Reply | Private Reply | View Replies]

To: george76
Now Finland must cough up 12.6 billion euros

Don't do it, Finland! If you pay, the European Stability Mechanism folks will just be back for more. Kinda like the way blackmailers operate.

2 posted on 07/27/2012 7:14:36 AM PDT by Leaning Right (Why am I carrying this lantern? you ask. I am looking for the next Reagan.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: george76

Reuters somehow forgot about the True Finn party in this desperate glossing-over of what the Finns actually want.


3 posted on 07/27/2012 7:24:20 AM PDT by agere_contra (Vote ABO. Don't choose the Greater Evil and then boast about how principled you are)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson