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Wednesday, November 17, 2010

Finnish reservations

[Financial] aid isn't sufficient if a country's own correcting measures aren't tough enough. That's why Finland wants to introduce guarantees. This would ensure discipline in the borrowing countries. It would also send a strong signal to the citizens that it's not the EU but the country's own measures that are saving them.
Finnish Finance Minister Jyrki Katainen continues to insist that any eurozone loan to Ireland should come with strong guarantees to ensure that the money is paid back. According to Finnish media it's still possible that Finland will oppose loans to Ireland unless such guarantees are attached.

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