Finland must participate in bailout fund

In an interview that took place after last week's EU summit Finland's finance minister Jutta Urpilainen rejected the idea of applying the majority rule principle for the ESM crisis mechanism on constitutional grounds. The prime minister, by contrast, holds participation in the ESM for necessary, as does the liberal daily Kaleva: "The need for unanimity in decision making has paralysed EU processes. It has enabled single states to cause havoc in the decision-making process in order to push through their own interests. The main thing is to be clear about what is good for Finland. Dependent as it is on exports, it would hardly be to Finland's advantage to isolate itself. Nor would the collapse of the euro be in our interest, as tempting as Sweden with its koruna may be. The government must focus on closing its ranks and explain clearly which line of approach the government as a whole backs."

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