Quotulatiousness

April 17, 2011

This is why the Finnish election matters to Portugal

Filed under: Economics, Europe, Politics — Tags: , , , — Nicholas @ 09:00

Unlike most other EU states, Finland has an option of putting the bailout to a vote:

Opinion polls suggest the True Finns have nearly quadrupled in popularity since the last election though they are unlikely to enter government.

Analysts see mainstream parties taking a harder line on the EU as a result.

Unlike other eurozone states, Finland can put requests for bail-out funds to a majority vote in parliament.

Since any bail-out must be approved unanimously by all 17 eurozone members, a hostile Finnish government could theoretically veto it.

The outcome of Sunday’s election may affect EU plans to shore up Portugal as well as impacting on stability in debt markets.

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