Still no agreement on Portugal bailout
Finnish parties failed to reach an agreement yesterday over approving an European Union (EU) bailout for Portugal. Agreement of all EU countries is needed for the bailout to go ahead, with EU Finance Ministers meeting on Friday to vote on the subject.
Although, up to now, it has been the True Finns who have argued against Finland agreeing to any more bailouts, yesterday’s breakdown in talks was caused by the Social Democratic Party.
The Social Democrats have argued that Finland should insist on changes to the way in which EU bailouts are made, with private investors as well as taxpayers being made to share the burden.
Following the general election last month, Finnish parties are still trying to put together a coalition government with the Portugal bailout issue proving an important test and block to progress.
A vote on the bailout, which was to take place today, in parliament’s Grand Committee has been delayed until Friday.