We’ve seen this song and dance before, only to have the deal ‘sweetened’ some and then they sign on the dotted line. The bottom line here is that Finland will not allow any major deal/scheme fail just because of them, they’ll sell themselves in the end, they’re just bargaining for more assurances to provide themselves political cover on the domestic front.
Finland threatens summit deal over bailout fund
03.07.12 @ 09:23
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BY VALENTINA POP
BRUSSELS – Finland is rejecting a just-agreed deal on letting the eurozone’s permanent bailout fund (ESM) buy government bonds on the open market, a change meant to lower Italy and Spain’s borrowing costs.
Finnish Prime Minister Jyrki Katainen – under fire at home for signing up to the summit deal (Photo: consilium.europa.eu)
Markets’ post-summit euphoria was dealt a blow on Monday (2 July) after a senior Finnish official briefed journalists in Helsinki about the government’s position.
“Finland finds it an inefficient way to stabilise markets,” the source was quoted as saying by several news wires.
A report outlining the Finnish government’s position delivered to the parliament on Monday said: