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Finland Threatens to Leave Euro-Zone Due to Greece, says FM Urpilainen

Finland is following a rather strict policy within the EU, admits Finnish Finance Minister Jutta Urpilainen, adding that her country is not willing to pay others’ debts obviously referring to Greece as well as to Spain, Cyprus and Ireland.

In an interview with the Finnish Kauppalehti newspaper, she commented that Finland is ready to react more assertively if any further recession results. This means that it could also leave the eurozone instead of paying other member states’ debts.

But her statements stirred reactions and so, she later rushed to deny this announcement saying she meant that Finland never threatened to leave the eurozone but “just doesn’t support eurobonds.” As it seems, Mrs Urpilainen was not aware of or forgot for a while the fact that all countries are committed to stay in the eurozone, according to treaties.

Finland is among the EU’s four countries still rated at AAA status. Finland and the Netherlands voted against the agreement made in the EU summit, according to which bonds can be bought directly by the ESM bailout fund but they didn’t manage to cancel it. As a result, Spain replied to this opposition saying that individual countries cannot block direct bond buying in the secondary markets, reports

Mrs Jutta Urpilainen told to Finnish newspaper Helsingin Sanomat that “Finland will make every effort to solve the debt crisis in the EU but only under certain conditions.”

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