The euro cannot be described as Finland’s success story. It would be fair to say that due to the euro, Finland’s economic growth has been weaker than in the corresponding Western European countries. In addition, over the last ten years or so, there have been a number of support measures for the euro, to which we have been drawn. Our European debts are already over EUR 100 billion; and no end is seen.
Now the Finnish government is once again demanding a new support package; our share of this package, including interest and other expenses, is € 8 billion. This time, the whole of Europe is being revived in the name of the corona crisis. However, the funds provided through the European Return Fund are largely distributed on the basis of pre-COVID-19 criteria. We take on large amounts of debt that we distribute to countries that have been poorly managed for years. Because of the support packages, these countries have no incentive to organize their economies, and why should they? The EU will help if necessary.
According to its own treaties, the EU should not take on debt to finance its activities. Now the treaties are being stretched or, frankly, the treaties are being broken. Growing debt will ultimately lead to the EU being given its own taxing power. It raises Finland’s already high tax rate, which we cannot afford. Major cuts and the downsizing of our welfare state are coming. We do not allow this.
The current path of the EU will lead to its destruction. The countries we would now be helping naturally want as much invaluable financial support as they can. It would also be possible for these countries to obtain loan money from the European Stability Mechanism, for example, but they do not want that, because, of course, the loan is more expensive for them and comes with conditions. As a result, these countries are always asking the EU for a new gift in the future. Europe is threatened by a banking crisis which (according to Gns Economics) is likely to start next spring. The banks in Italy, Spain, France and Germany are at the heart of the crisis, and through the fund we will be the payers of this crisis.
That is why the EU stimulus fund must be poured out. There is still a chance. At the same time, we must end EU federalization and return decision-making to the national level. Only in this way can Finland maintain its independence and ensure the existence of a welfare state in the future as well.
Jari Koskela
Jari Jukka Hannu Koskela is a Finnish politician who currently serves in the Parliament of the Finnish Party of the Satakunta constituency. He is a pastor and doctor of social sciences.
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Source: The Nordic Page