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The Euro Crisis: The Finn Red Line

Experts have warned us not to get too comfortable with the idea of a suspended lull in the euro crisis. Along with a multitude of other concerns regarding firm-footed countries unwilling to pander, a new concern is being presented by Helsinki, Finland. Recently the Finnish finance minister, Jutta Urpilainen, created a quite a fuss when stating that Finland is not prepared to “hang itself to the euro at any cost”, nor assume the debts of other states. Not only this, but now news has surfaced that the Finnish foreign minister, Erkki Tuomioja, has formed contingency plans for the break-up of the euro. If a grand bargain with regard to pooling European debts is what is needed to keep the euro intact, the Finns may well thwart this. In fact, many now consider “Fixit” (a Finnish exit from the euro) will be a more likely possibility than a Grexit…

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