Finland’s government outlined in October that Finland emphasises market discipline and member states’ own responsibility in the development of EMU. Finland does not support reforms that increase joint liability of member states, the government stated. Taneli Lahti of the Federation of Finnish Industries says that when looking at the euro area, Finland is in the minority with its opinion, Verkkouutiset reports. Mr Lahti thinks that the majority of euro member states support some kind of a cyclical adjustment mechanism. The European Commission publishes its proposals on EMU’s future on 6 December. Mr Lahti thinks the Commission could propose a cyclical adjustment mechanism or euro area’s own budget. « During the next weeks or months, EMU will start moving ahead, » Mr Lahti says.
Media: Verkkouutiset / Nykypäivä
Journalist: Sami Metelinen
Main source: Taneli Lahti