Tuomioja slams planned EU treaty
Foreign Minister Erkki Tuomioja says Finland should not sign the proposed Treaty on Stability, Coordination and Governance in the EMU, the third draft of the EU's fiscal compact. The comment is the latest sign of differences of opinion over European fiscal policy between the government's two main parties, the SDP and the conservative National Coalition.
The latest version was discussed by representatives of member states, the European Commission and Parliament late last week. It is expected to be approved at the end of this month.
Writing in his blog, Tuomioja, a former Social Democratic Party chair, says that "in fact, the whole compact is at best unnecessary and at worst harmful, and Finland has reason to oppose the whole treaty and at least remain outside it."
Last week the chair of Parliament's Finance Committee, the National Coalition's Kimmo Sasi, indicated that Finland was ready to sign the treaty, which aims to impose tougher rules on fiscal discipline for EU member states.
EU President Herman Van Rompuy said on Monday that "real progress has been made in reshaping the euro area," pointing out that the bloc "will agree on the new fiscal compact treaty at the end of this month and sign it early March."
On Saturday, German Chancellor Angela Merkel said she and her fellow leaders must act more swiftly to impose common fiscal rules by approving the compact.
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