Tags: Finland | Eurozone | Bailout | Fund

Finland Approves Stronger Eurozone Bailout Fund

Wednesday, 28 Sep 2011 10:02 AM

Finnish parliament approved extending the powers of the eurozone bailout fund as members of the ruling coalition sought to keep the country on a pro-Europe course despite pressure from a euroskeptic opposition.

A total of 103 members of parliament voted for granting additional powers to the European Financial Stability Facility (EFSF), while 66 were against it and 30 were absent from Wednesday's vote.

Eurozone leaders agreed on July 21 to give the EFSF the power to give precautionary loans to countries and to buy sovereign bonds when needed. The agreement requires approval by member states' parliaments.

The Finnish government faces pressure from voters fed up with bailing out other European nations, particularly after the euroskeptic True Finns made strong gains in April elections to become the leading opposition party.

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Finnish parliament approved extending the powers of the eurozone bailout fund as members of the ruling coalition sought to keep the country on a pro-Europe course despite pressure from a euroskeptic opposition. A total of 103 members of parliament voted for granting...
Finland,Eurozone,Bailout,Fund
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2011-02-28
Wednesday, 28 Sep 2011 10:02 AM
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