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Persistent rumour and now contingency talks of how Finland can be ready to leave the Euro

Wednesday, 11 July 2012
The Finnish opposition and economics experts have put forward demands that Finland should consider to what would happen if Finland did leave the euro. A Finnish exit of the euro is talk of more in Finland and their news editors are taking it seriously. Even the Prime minister has spoken of doom but remain cautious with words.

If based on the way the purported prospective Finnish exit from the Euro is being reported and analysed in the Finnish press was to be a reason to believe that they will soon dump the Euro, then such speculations could be taken seriously now.

Now the debate has been given a boost after the Finance Minister, Jutta Urpilainen (SDP), told the paper, Kauppalehti that Finland is preparing for all possible scenarios. Her phrase has been interpreted abroad as she felt that a Finnish exit is possible.
As for the Hufvudstadsbladet paper, it writes that Urpilainen played for the home crowd and that she probably was not thinking about that comment, which was intended to have a calming effect in Finland, could be interpreted differently overseas.

Then the Helsingin Sanomat brings the question open - with no fear or favour - that is about what actually would happen if Finland were to come out of the euro. What would be the foreign exchange market look like? Would there be continue interest from the Euro zone countries to invest in Finland and would it affect exports negative or positive?

The paper continues that the old truth of the Finnish EU policy is to be where there is action  and power. To withdraw from the euro area is to leave the centre of power.

Lastly, the other peper, Turun Sanomat folloed the same lines  and say that there may be a more fruitful path to follow Commissioner Olli Rehn and the Commission's service than to just focus on national interests.

The above view for the press comes after the Finnish Prime Minister Katainen (Nat) denotes the euro crisis at the current level as the worst since May 2010. At that time, the Greek economy for the first time looks close to collapse.

"Just like then now there is the danger of a catastrophe,"says Katainen in a comment to the paper, Helsingin Sanomat .

He is concerned that the trust between countries and people has worsened and that the noises in this has hardened. Demands have been raised on the government to have a plan ready for monetary union's possible disintegration.

Katainen recognizes that a military crisis or natural disaster is easy to prepare in comparison to the crisis that the euro's collapse would bring.
By Team

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