He suggests that critics of his idea had not grasped what he actually meant. In an interview given to YLE, Stubb emphasized he was not proposing new structures within the EU.

“The basic fact in my comments was that currently the triple A nations are the centrifugal force in the core European economy. In my view, it is essential that also the EU recognizes this reality but at no time has anyone proposed setting up a new institutional core,” Stubb stressed.

Earlier this week, the Minister had told the Financial Times that new EU rules should be created to allow for “enhanced co-operation” between members to coordinate economic policies.

“A country that is not triple A rated is not going to be the best one to give you advice on your public finances,” Stubb told the newspaper.