- Title: FINLAND: Amid opposition, parliament approves a second rescue package for Greece
- Date: 1st March 2012
- Summary: HELSINKI, FINLAND (FEBRUARY 29, 2012) (REUTERS) PAN FROM STREET TO PARLIAMENT BUILDING MEMBERS OF PARLIAMENT ARRIVING TO SESSION PARLIAMENT SPEAKER OPENING SESSION OPPOSITION LEADER TIMO SOINI (THE FINNS PARTY) AND HIS COLLEAGUE PRIME MINISTER JYRKI KATAINEN (NATIONAL COALITION PARTY) VOTING VARIOUS OF VOTING RESULT APPEARING ON ELECTRONIC DISPLAY (SOUNDBITE) (English) PRIME MINISTER OF FINLAND JYRKI KATAINEN SAYING: "The situation is very challenging, but our interest to participate in this package is that we want to safeguard the stability of the euro zone and especially the stability of our own economy, because we are so export-driven economy and we are afraid of contagion risk, what happens if Greece defaulted." KATAINEN CHECKING HIS PHONE (SOUNDBITE) (English) PRIME MINISTER OF FINLAND JYRKI KATAINEN SAYING: "It is politically very difficult and unclear in a sense because no-one can guarantee one hundred percent that what we are doing now will end the crisis, but we know that if we didn't participate in this we would take a huge risk for contagion and instability in the euro zone." FINNISH PARLIAMENT IN SESSION
- Embargoed: 16th March 2012 12:00
- Keywords:
- Location: Finland, Finland
- Country: Finland
- Topics: International Relations,Economic News,Politics
- Reuters ID: LVAB3Y03LNKLRTR5I3GG10A6THWU
- Story Text: Finland's parliament on Wednesday (February 29) voted in favour of participating in the latest Greece's bailout package, despite opposition from eurosceptic lawmakers.
With the votes 111 against 72, the parliament gave the government a vote of confidence for a second aid package to Greece.
The vote of confidence was held at the conclusion of two days of debate on Greece Greece is rushing to secure a 130-billion-euro EU/IMF bailout in a desperate bid to avert default, which could come as early as next month when Athens faces bond redemption worth 14.5 billion euros.
Finland has sought guarantees for its participation in the rescue package, a demand driven largely by the Social Democratic Party, the country's second-biggest.
Finland's share in the 130 billion euro package would be 2.2 billion euros.
Before casting his vote, Finland's Prime Minister Jyrki Katainen said it was in Finland's interest to support the bailout package
"The situation is very challenging, but our interest to participate in this package is that we want to safeguard the stability of the euro zone and especially the stability of our own economy, because we are so export-driven economy and we are afraid of contagion risk, what happens if Greece defaulted," he said.
Katainen also said there were no guarantees the package would work
"It is politically very difficult and unclear in a sense because no-one can guarantee one hundred per cent that what we are doing now will end the crisis, but we know that if we didn't participate in this we would take a huge risk for contagion and instability in the euro zone," he said.
Finland is led by pro-euro Katainen of the conservative National Coalition Party. The coalition government, however, includes left-leaning parties such as the Social Democrats who are slightly more critical of EU bailouts.
The rise of the eurosceptic Finns Party in last year's general elections has also put pressure on politicians to take a strict stance on conditionality.
END - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None