Is Finland Preparing a “FIXIT” from the Euro?

Aug. 20 (EIRNS)– Now people are talking about a “FIXIT,” short
for an exit from the euro by Finland.  {Daily Telegraph}
columnist and City of London mouthpiece Ambrose Evans-Pritchard
writes that Finland is the best candidate for an exit from the
Eurozone, which the Finns themselves have dubbed FIXIT.  Further,
a FIXIT is the wish of Germans, such as Hans Olaf Henkel, former
head of Germany’s industry federation, and former Bundesbank
executive Thilo Sarrazin. Henkel laments that Germany “can’t
start this (a euro exit) off.”  Sarrazin laments that the German
elite is driven by “the very German reflex that the Holocaust and
the Second World War will only be atoned for finally when all our
interests, including our money, are in Europe’s hands.”
Nonetheless Evans-Pritchard writes that Finland is in the
best position for a FIXIT. Its debt is only 51% of GDP and
two-thirds of its exports are to countries outside of the
Eurozone. “You can’t find a more likely candidate for euro exit”
writes Evans-Pritchard.
While the Finnish government is still committed to the euro,
time is running out. The Social Democrats, who are losing votes
to the anti-euro True Finns Party, could be the most likely
candidate to break from the six-party government coalition on the
issue, which could begin the process of an exit.

This entry was posted in Austerity & Bank Bailouts and tagged , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s