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Finland’s government survived a confidence vote brought by the opposition after lawmakers backed its handling of the Cyprus bailout.
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The leader of Finland’s euro-skeptic True Finns, Timo Soini , backtracked on signals he may be willing to discuss a rescue plan for Portugal amid signs his party won’t compromise on its opposition to European bailouts.
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Less than a year after Timo Soini led his anti-euro “The Finns” party in a fourfold surge in Finland’s parliamentary election, voters are showing they won’t reward candidates running on a bailout-bashing agenda.
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Finland’s euro-skeptic bloc is poised to enter a government with the pro-Europe National Coalition led by Finance Minister Jyrki Katainen after voters used yesterday’s election to protest against funding bailouts.
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Finland’s ruling parties are on track to cement control over local governments as voters back their austerity policies and efforts for conditioned-based bailouts for struggling fellow euro nations.
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Sauli Niinistoe, a former finance minister who led Finland into the euro in 1999, won the first round of the country’s presidential race as voters handed a loss to candidates calling for an exit from the single currency.
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Finnish voters may prove as great a threat to the euro region’s retooled bailout plan as German taxpayers.
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Sauli Niinistoe of the pro-Europe National Coalition Party won the first round of Finland’s presidential election, garnering 37 percent in a vote affirming Finns’ support for the bloc’s single currency.
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Finland moved closer to supporting a bailout for Portugal as the parliament’s biggest party decided to keep negotiations on Europe’s crisis-handling tools separate from coalition talks with the euro-skeptic True Finns.
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Finland’s victory in securing Greek collateral saved the government’s face. It may fail to protect Finnish taxpayers from the costs of funding the next bailout.
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