The Finnish flirt with a euro exit continues. Another anti-euro statement came from a senior Finnish minister: Foreign minister Erkki Tuomioja said that “We have to face openly the possibility of a euro-break up”. Finland’s Europe minister later distanced the country from that statement, saying that this speculation on the euro breakup doesn’t reflect the government’s position and that Finland is 100% committed to the euro. While this strong comment was later renounced by another minister, Tuomioja did show where the friction would come from. Tuomioja joins Finland’s finance ministerJutta Urpilainen, that recently threatened to leave the euro-zone “before paying others’ debt”. In the interview that Tuomioja gave, he further added: “The ESM loans have priority. That is a red line for us. We are very concerned that the rules of the ESM seem to be changing.” Another Finnish politician, Miapetra Kumpula-Natri, explained that Finland passed a law this summer that states that the ESM has the same level of priority as the International Monetary Fund (IMF). The Finnish parliament, but this would be very difficult in an environment where the euroskeptic parties are gaining traction. In Greece’s case, the ECB got seniority and was exempt from the severe haircut that private bondholders suffered. The backlash was that private investors now fear investing in bonds of peripheral countries. Having learned the lesson, the ECB recently stated that a fresh wave of bond buys will “address the issue of seniority“. There are still no details about how Mario Draghi and his colleagues will address seniority. Yet it is becoming clear that any less-than-senior status for the ESM bailout fund will put Finland on a collision course with its European peers. Finland, that got collateral deals with Greece and Spain, doesn’t want to risk any of its money via the ESM bailout fund. Further reading: Inflating Away Debt – Future of Monetary Policy? 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 Opinions share Read Next Forex Links for the Weekend Yohay Elam 10 years The Finnish flirt with a euro exit continues. Another anti-euro statement came from a senior Finnish minister: Foreign minister Erkki Tuomioja said that "We have to face openly the possibility of a euro-break up". Finland's Europe minister later distanced the country from that statement, saying that this speculation on the euro breakup doesn't reflect the government's position and that Finland is 100% committed to the euro. While this strong comment was later renounced by another minister, Tuomioja did show where the friction would come from. Tuomioja joins Finland's finance ministerJutta Urpilainen, that recently threatened to leave the euro-zone "before paying… 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.