Parliament in Finland debates leaving the Euro zone.
The Finnish parliament is debating whether Finland should leave the Eurozone after 53,000 people signed a petition asking that parliament debate the issue.
|The petition was filed by MEP Paavo Vayrynen who said:”We should revive our economy by leaving the euro zone and reinstating our own currency (with a floating exchange rate). This will restore our competitiveness.” His main argument for leaving the euro is the fear that Finland might lose economic and political independence if it remains in the eurozone. The petition demands a referendum but only if the parliament supports it. The petition is a sign of growing frustration with poor economic performance, rising unemployment, and an outlook for weak growth. All of this is going on alongside a government austerity program. So far no political group has proposed Finland exit the Eurozone or a Fixit as it is called. However, some euro-sceptic parliamentarians claim that the lack of an independent foreign policy is a problem. Prior to entering the eurozone, Finland would reduce the value of its currency the marrka in order to stimulate export growth when it appeared necessary. The eurosceptics say that Finland should have had a referendum on the issue in 1998 when the euro was adopted. Sweden and Denmark voted against adopting the euro.|