As far as I can remember Finland has considered it´s role merely as a doctor than judge in international politics.This was especially the case during cold war. After the cold war we still have made the most significant achievements in international politics in the field of peace negotiations and reconciliations. Gentlemen like late Mr. Holkeri and nobel winner Mr. Ahtisaari should ring a bell.

When Finland adopted euro in non-physical form (banking, electronic transfers etc.) on 1st of January 1999 and in physical form on 1st of January 2002 we were very active player in euro zone. We saw the benefits of strong and stable currency and felt it was something to work for. Adopting euro was just not a change in currency but also a promise to other eurolands that we will stick together - united. Back at those days we also knew, or we should have known about the window dressing of Greeks economical figures.

Now it has been around 10 years with euro. During that time Finnish politics has been almost Europhile. We have been in the core of EU building and unifying the Eurozone. Our politics in EU has been solid and predictable.

This year after our parliament election this has changed. Forming of a government was very complicated. The outcome of those talks is a gang (sixpack) of parties that do not have much in common when looking at their ideological background. What do we have now? Government that has no direction, key members (PM, minister of finance) lacking of experience and government program is just a big compromise. There is no sound of EU strategy. We are floating in compromises.

Finnish demand for collaterals from Greece is just a populist argument that origins from electoral debates this spring. One party made it a key issue in government talks and here is the result. We are actually weakening the whole euro area. The worst thing to markets is uncertainty and that´s what we are doing.

Last elections in Finland – there was no winners.

Shame on us.

Ilkka Pesonen

Wabuco Oy