Finance Minister Jutta Urpilainen (SDP) rejects some of the proposals made by Germany and France to resolve the ongoing sovereign debt crisis that is threatening the future of the euro, reports the Finnish Broadcasting Company (YLE).
In an interview with YLE News on Tuesday, Urpilainen said that Finland cannot accept that a majority would decide on the use of the permanent European Stability Mechanism (ESM).
”In the future, consensus would no longer be required. From the Finnish perspective, it is a very alarming arrangement, and one that Finland cannot accept”, Urpilainen noted.
Finland also refuses to agree to proposals to reduce the responsibility of private investors in the ESM.
According to Urpilainen, the starting point is that banks and investors will have to retain their responsibility even in the future.
At the same time, Urpilainen regards as sound the proposal by France and Germany to more tightly monitor the rules and sanctions for breaking fiscal agreements, YLE reports further.
