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Finland threatens eurozone bailout plans
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Finland does not approve of the key crisis-response measure agreed at last week’s EU summit, says Finnish government.
Namely, Finland wants to prevent the eurozone’s new permanent bailout fund – European Stability Mechanism – from buying bonds in secondary markets.
“In the future unanimity is needed in order to decide on [bond] purchases, and it seems that unanimity is not possible due to Finnish and Dutch opposition,” the government says in a statement.
It should be pointed out that also last year Finland had its own firm stance. It delayed a second bailout deal for Greece by demanding collateral on its share of loans.
Meanwhile, Germany’s top court will soon consider legal challenges to the 500bn-euro ESM. Its Constitutional Court will examine complaints against the fund from those who believe it violates the German constitution and by-passes German democracy.
The launch of the ESM has already been delayed – it was originally supposed to happen on July 1, reports BBC.
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jj @ 2013-05-19 19:31:35
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J. @ 2013-05-19 16:14:44
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