Stop Dreaming – Finland Ain’t Leaving

15 january 2013

Weirdly enough, speculation about Finland leaving Euro or triggering some sort of crisis has become a popular pastime in the UK and US in recent weeks. The most recent example being The Telegraph note about Finnish finance minister “considering crashing Finland out of the eurozone”.

Every Finn knows this is not going to happen. Finland is among the meekest, most pliable EU members, with a history of diligently following both the letter and the spirit of EU regulations even when most of the other member countries have gone on an equivalent of a binge weekend in Atlantic City. Finland sticks to budget frames, Finland does not break farm subsidy rules, Finland does what every EU country is supposed to do.

Sweet, but naive

And that is precisely why Finnish politicians talk tough. Because Finnish citizens are incandescent with rage about being the only ones to toe the line. And because everyone in Finland knows their leaders are never going to actually provoke a meaningful confrontation with Germany. Finnish politicians say things like “Finland will not hang itself to the euro at any cost” because they know they will not actually be taken seriously.

Except by wishful Brits and Americans dreaming about the EU collapse.