This guy is a real EU believer, an EU apparatchik first, a Finnish FM second. That’s the only way you can understand his thinking, he’s all for Finland making ‘difficult sacrifices’ in order to save his beloved EU federalized anti-democratic union. He’s not a loyal Finn and a hack politician and delusional, sorry you Finns that might like him, but I take the view that he’s unhinged. KGS
Stubb: “The euro is an historic project, and the financial crisis is its first tough spot. The situation is difficult, but the basic trend is good.”
Stubb on euro: Crisis could bring on deeper EU integration
With Greece and Ireland being forced to resort to emergency aid from other eurozone countries, and with Portugal also taking an aid package, questions have been raised about the viability of the common European currency.
Violent demonstrations have taken place in the affected countries against deep cuts in public spending, and Spain, Italy, and Belgium are also struggling with their finances.
In spite of the problems, Minister for Foreign Affairs Alexander Stubb (Nat. Coalition Party) takes the optimistic view that the crisis does not threaten the integrity of the euro.
Stubb feels that the problems are not inherent to the common currency itself. He says the credit crisis was the result of mistakes made by individual euro countries.
He also notes that the crisis, which began in the United States, first hit three European countries outside the euro zone – Iceland, Latvia, and Hungary.
Stubb concedes that there have been shortcomings. He says that rules concerning public finances are inadequate, and they have been applied too loosely, allowing for economic recklessness in a number of euro countries.
“The euro is an historic project, and the financial crisis is its first tough spot. The situation is difficult, but the basic trend is good.”
Stubb’s strong faith in the European Union has not been shaken.
“The crisis will lead to a deepening of EU integration.
Just over a year ago, when the Lisbon Treaty was approved after years of equivocation, it was suggested that a breather should be taken in EU integration. This did not happen. Changes are being made to the EU constitution, even though the ink is hardly dry on the original document.