Finland poll result could spell trouble for Portugal

Finland has gone to the polls to elect a new parliament. Opinion polls are showing the nationalist True Finns party has quadrupled its support since the last election. Nationalist leader Timo Soini, has seen his tiny party go to 15 percent support in the opinion polls up from a minimal 4 percent at the 2007 election. UPDATE: True Finns won 19 percent of the vote in todays election.

Timo Soini’s party rejects rescue packages for what he calls EU “squanderers”, as well as opposing immigration. Generally it is all the standard right -wing stuff that nationalist parties like to champion.

The support will probably not be enough to enter governmant but it will ensure that the major parties hear the voice of the electorate and take a harder line on European Union policies.

Portugal will be watching the results rather nervously, as their proposed financial bailout would require the unanimous approval of all 17 Eurozone members.

Finland has a simple parliamentary majority vote to approve european policy, so effectively the Finland nationalists could veto financial rescue packages for struggling european economies like Spain, Potugal, Ireland and Greece.

The poll results will be known soon after the polling stations close later today.

Finland is currently governed by a four-party coalition led by Prime Minister Mari Kiviniemi’s Centre Party and the conservative National Coalition Party (NCP). The coalition is pro-europe.

Opinion polls show the NCP has a narrow lead, just ahead of the Centre Party and the opposition Social Democrats, making a new coalition of the incumbents the most likely outcome.