Finland: bettter get out of euro. Italy threatens boycott
by: WSI-Agencies Published July 6, 2012
(google translator)
Finland prefers to exit from the euro instead of paying for other eurozone partners. Said the Finance Minister Jutta Urpilainen; Nouriel Roubini: Italians are furious, "the politicians threaten to boycott Nokia".
The Finnish Minister of Finance Jutta Urpilainen.
Rome - Italy threatens Finland not to go out of the euro and to imposes a veto on the hypothetical shield spreads, so much that according to economist Nouriel Roubini in the privacy of the Helsinki peninsula would have threatened to boycott their products .
"Risks of trade war," says the economist in a message from the social network Twitter. "In Finland, which blocks the use of ESM-EFSF to buy government bonds of Italy and Spain, in confidence - writes Roubini - Italian politicians threaten to boycott Nokia".
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Finland prefers to exit from the euro at the prospect of paying the debts of other eurozone partners. He says, in an interview with the Finnish financial daily Kauppalehti, Finance Minister Jutta Urpilainen. '' Finland wants to remain in the euro and we know what are the benefits for our country. However, Finland will not stay there 'at any price and we are ready for all scenarios, including the abandon of the single currency,'' said the minister.
Minister rejects any idea of pooling of risk and debt. Helsinki has criticized the results of the EU summit last July 28 to 29, in particular the modalities' of direct recapitalization of Spanish banks without being accorded the status of preferred creditor to the fund saves the European states.
Funds should go to Spain dall'Efsf, the temporary fund were saved, and not 'secured creditor, Helsinki said it will ask' in Madrid of the guarantees to be negotiated on a bilateral basis, as already 'happened in the case of the second loan to Greece .
However, if the funds come from the permanent fund would subsequently save states (ESM), both for Spanish banks and as a shield-spread, Helsinki wants the ESM maintains the status of preferred creditor.
