June 19, 2019

Finland supports EU Portugal bail-out

Jyrki Katainen has cut a deal with his enemies to shut out the True Finns and ensure Portugal gets its bail-out.

Political rivals from the left and right of the political spectrum in Finland have agreed to back the proposed EU bail-out for Portugal, depriving the Nationalist True Finns party of their chance to scuttle the bail-out.

The likely next prime minister of Finland, Jyrki Katainen, leader of the conservative National Coalition Party, said he had gained the support of the Social Democrats and others on the package.

Finland reservess the right for its parliament to od a simple majority vote on bail-out packages. The deal for Portugal is for 78bn euro bail-out to keep it afloat and prevent a financial meltdoen.

Timo Soini, the leader of the True Finns party that won 19 percent of the vote in last monhts elections, has spat the dummy and announced he is pulling out of coalition talks.

The True Finns were widely expected to join the NCP to form the new government.

EU finance ministers are due to meet next Monday in Brussels to discuss the Portuguese bail-out as well as fellow economic basket cases – Greece and the Irish Republic.