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Prime Minister Katainen in Brussels: Finland against the introduction of eurobonds - Permanent Representation of Finland to the European Union : Current Affairs


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News, 5/24/2012

Prime Minister Katainen in Brussels: Finland against the introduction of eurobonds

Government Communications Unit
Press release 163/2012
24.5.2012 12.08

On Wednesday 23 May, Prime Minister Jyrki Katainen attended the informal European Council in Brussels. Meeting for the first time after the parliamentary election of Greece and the presidential election of France, the EU Heads of State or Government focused on finding common ways to ensure Europe's economic development and growth.


Pääministeri Katainen ja Iso-Britannian pääministeri David CameronUK Prime Minister David Cameron and Prime Minister of Finland Jyrki Katainen

Prime Minister Katainen's clear message to his EU colleagues was that Finland does not support the introduction of eurobonds as an effort to stabilise the European economic situation.

"Too many EU Member States have been getting loans too cheaply for too long. Eurobonds would just institutionalise the problem. Besides, introducing the eurobond arrangement would take time. What we need right now is tight budget control, peer pressure to ensure compliance with commonly agreed rules and efforts to create suitable conditions for economic growth, for example by enhancing the internal market", Prime Minister Katainen said.

According to Prime Minister Katainen, the clash between the German-led opposition to eurobonds and France's recently introduced support for the jointly guaranteed bonds did not dominate the summit.

"The general atmosphere was better that I expected. The adoption of the eurobond arrangement did not seem to be the highest priority even for France. Our opposition to eurobonds received considerable support also from countries outside the euro area. This meeting prepared ground for common decisions on the EU's future to be taken at the European Council meeting at the end of June", Prime Minister Katainen said.

Inquiries: Juho Romakkaniemi, Special Adviser, EU Affairs, tel. +358 9 1602 2055 or +358 400 505 269 and Kari Mokko, Director of Government Communications, tel. +358 40 751 3281, Prime Minister’s Office



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Updated 5/25/2012

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