Finland could leave euro zone, hinted the finance minister. She said that Finland will prefer to leave the zone rather than pay the debt of others. Also other statements are not so supportive: Sayings such as “solidarity has limits” are aimed at the Finnish public who is reluctant to help the southern states. Finland stood out by requesting collateral from Greece and then from Spain, in case the programs fail in these countries. The Finnish Prime Minister also said that the ESM has preferred creditor status – a preferred status for the ESM, or seniority, is exactly the thing that scared investors after the Greek restructuring. The ECB wants to address the issue of seniority, and Finland is not on the same page. How real is the threat? Here are some points to consider: Finland is in the northeast corner of the euro-zone and has a lot of trade with non-euro-zone countries such as Russia, Norway, Sweden and Poland. So, perhaps it doesn’t make sense for Finland to “Hang itself to the euro” as they said. Finland is the euro-zone country with a perfect AAA rating that didn’t receive a negative outlook by Moody’s. This adds to the confidence of the northern country. Contrary to Germany, Finland has low costs of leaving the zone, making such a move not only positive for the Finnish population but also not disastrous for the economy. On the other hand, Finland did approve the recent agreements and its representative in the central bank did support Draghi’s conditional QE program and didn’t side with Germany on this topic. It will be interesting to follow Finland’s statements and actions during August. Further reading: Spain Opens Door to Asking for Help Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD Aug. 8 Losing Ground as Markets Await ECB Action Kenny Fisher 10 years Finland could leave euro zone, hinted the finance minister. She said that Finland will prefer to leave the zone rather than pay the debt of others. Also other statements are not so supportive: Sayings such as "solidarity has limits" are aimed at the Finnish public who is reluctant to help the southern states. Finland stood out by requesting collateral from Greece and then from Spain, in case the programs fail in these countries. The Finnish Prime Minister also said that the ESM has preferred creditor status - a preferred status for the ESM, or seniority, is exactly the thing that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.