Monday, 18 April 2011

Huns to take Finns' share of Portugal loan?

Finland is a small nation with about the same population as the West Midlands. Her people are being asked to stump up £1.5bn for the latest bail-out for Portugal. Many Finns believe that this will just be throwing hard-earned cash at improvident Mediterranean wasters. Normally, this wouldn't matter - European governments are generally quite happy to ignore public opinion on this sort of thing, and in most cases it doesn't even get debated in national Parliaments. But the Finnish system requires a Parliamentary vote to approve the loan - and yesterday's extraordinary success by Timo Soini's True Finn party will almost certainly mean that at the very least the terms of the loan will change, and at worst it may not be approved at all. 


There must have been panic in Brussels last night and lights burning late in Berlin. If the Finns dob-out from contributing their share, there's really only one guarantor of last resort - the Hun. But Merkel herself must surely be wondering how much further she can commit an unwilling nation whose views are closer to those of the Finns than is comfortable. 


And as the markets open this morning, the price of Portugal's sovereign debt will surely take a hit as the uncertainty grows. As pressure on the Euro-zone grows from a number of directions, the next few weeks will offer a fascinating series of developments as Europe goes all-out to prevent the Euro unravelling.


Incidentally, don't the papers have night-staffs any more? I couldn't find a single news piece about this at 6am, so no links I'm afraid. 

8 comments:

Anonymous said...

OH dear! Not more pressure on the euro?:>)))

Surely not!

I anticipate and will give a warm welcome to, on that glorious day....when this corrupt and blasted federal project - a power trip for the European claque of; politicians, wealthy businessmen and ex aristocracy our patricians and betters to be buried deep, way deep in the ground - where it belongs.

The collapse of the euro is the start of the EU evil empire's permanent demise, bring it on!!

Sue said...

There seems to be a media blackout on this story. Not even Skynews is reporting it.

Can't be giving the British proles any ideas now, can we?

DeeDee99 said...

There is an article in the DT here: http://www.telegraph.co.uk/news/worldnews/europe/finland/8457614/Finland-election-nationalists-make-huge-gains.html

And, as you would expect, a negative one on the BBC website which calls the True Finns Nationalists and Xenophobes (impartial as ever, not).

Guido announced the result last night .... the comments are fun reading!

Amazing result; I hope Rompuy and Barosso are quaking in their shoes and Cameron is beginning to fear the impact UKIP with Nigel back and on form.

Barnacle Bill said...

If only we had had a sensible constitution like the Finns with the opportunity to have voted on bailing the banks out - especially the Scottish ones!

But have no fear I'm sure our masters in the EU will have a cunning plan to get the Finns to vote on this again and again till they get the result they want.

Gordo said...

Scottish banks Barnacle Bill? be serious, these 'Scottish' banks are the usual internationalists as you must know well. RBS is no more Scottish than it is Royal.

Oh and good luck to Finland, they have my good wishes.

And especially good luck to Timo Soini, remember what happened to George Haider.

English Pensioner said...

It is because that things like this no longer seem to be mentioned in the media that I have given up buying a daily newspaper. Far better to read the news from the countries concerned, on-line, than waste money to only read the PC part of the news.
However in the end, I suspect that Finland will pay up as Politicians of all countries seemed to be "hooked" on the EU just as many celebs seem to be "hooked" on drugs!

Now where did I put my chequebook? said...

Have no fear. Camoron has already sent the email to Rumpy Pumpy indicating that the Brit taxpayers will happily make up the difference if the Finns tell the EU to get stuffed.

Fergus said...

I liked this from Hannan..
http://blogs.telegraph.co.uk/news/danielhannan/100084220/ten-reasons-why-britain-shouldnt-join-the-portuguese-bailout/