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Finland prepares for break-up of eurozone
The Telegraph ^ | 8/16/2012 | Ambrose Evans-Pritchard, in Helsinki

Posted on 08/16/2012 4:58:19 PM PDT by bruinbirdman

Finland is preparing for the break-up of the eurozone, the country’s foreign minister warned today.


Erkki Tuomioja, Finland's foreign minister: "We have to face openly the possibility of a euro-break up".

The Nordic state is battening down the hatches for a full-blown currency crisis as tensions in the eurozone mount and has said it will not tolerate further bail-out creep or fiscal union by stealth.

“We have to face openly the possibility of a euro-break up,” said Erkki Tuomioja, the country’s veteran foreign minister and a member of the Social Democratic Party, one of six that make up the country’s coalition government.

“It is not something that anybody — even the True Finns [eurosceptic party] —are advocating in Finland, let alone the government. But we have to be prepared,” he told The Daily Telegraph.

“Our officials, like everybody else and like every general staff, have some sort of operational plan for any eventuality.”

Mr Tuomioja’s intervention is the bluntest warning to date by a senior eurozone minister. As he discussed the crisis, the minister had a copy of the Economist on his desk. It had a picture of Angela Merkel, the German Chancellor, reading a fictitious report entitled “How to break up the euro”, with a caption: “Tempted, Angela?”

“This is what people are thinking about everywhere,” said Mr Tuomioja. “But there is a consensus that a eurozone break-up would cost more in the short-run or medium-run than managing the crisis.

“But let me add that the break-up of the euro does not mean the end of the European Union. It could make the EU function better,” he said, describing the dash for monetary union in the 1990s as a vaulting political leap in defiance of economic gravity. Finland has emerged as the toughest

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: finland

1 posted on 08/16/2012 4:58:23 PM PDT by bruinbirdman
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To: bruinbirdman

Eurozone, bad idea from the word “Go”.


2 posted on 08/16/2012 5:25:39 PM PDT by Dartman
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To: bruinbirdman

Salvation is the Aureo, a new currency backed by gold. The opening moment Aureo’s will be valued at the price per ounce of gold.


3 posted on 08/16/2012 5:33:51 PM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: bert

Do you pronounce it Oreo?


4 posted on 08/16/2012 6:11:20 PM PDT by Sawdring
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To: Sawdring

I was going to comment about that, but I see you beat me to it.


5 posted on 08/16/2012 6:13:19 PM PDT by The Grammarian
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To: The Grammarian

I should have left it to you since you are the Grammarian


6 posted on 08/16/2012 6:52:16 PM PDT by Sawdring
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To: Sawdring

Mmmm, golden Oreos.

7 posted on 08/16/2012 6:59:10 PM PDT by KarlInOhio (Recycled Olympic tagline Shut up, Bob Costas. Shut up! Shut up! Shut up! Shut up! Shut up! Shut up!)
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