More European Dis-Union: Finland Rejects Pooled Funds Required For 'Banking Union'

Tyler Durden's picture


While ever so politically correct in their response and positive about the need to protect an ailing banking system, the Finns have said 'ei' - which means 'no' - to the pooling of funds.

Finland considers that the proposed directive is called for but does not support any national funding arrangements would be required to borrow funds for national funding arrangements in other member countries.

Posturing? maybe. Negotiating? perhaps. An unequivocal show of support for the kind of progress we all hoped was being made in Europe - not a single bit.

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Thu, 08/30/2012 - 09:46 | 2749266 GetZeeGold
GetZeeGold's picture



Wow....can they actually do that?


Thu, 08/30/2012 - 09:48 | 2749271 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture


Thu, 08/30/2012 - 10:05 | 2749280 GetZeeGold
GetZeeGold's picture



Party on Garth.


Thu, 08/30/2012 - 09:50 | 2749281 THX 1178
THX 1178's picture


Thu, 08/30/2012 - 10:01 | 2749300 Ghordius
Ghordius's picture

of course they can do that. both european clubs are tailored to nations and represented by their governments (in the ECB, by their CBs).

the Finns have a clear cut political view within a parliamentary majority, and so this view is aired, loud and clear.

of course, when it comes to voting in the two Councils, they might lose. and the question is if they would really prefer to step out of the EZ and "just peg" to the EUR, in the same way as the Danes or the Swiss do.

which might be the sounder solution for Finnland - IF there would not be that "little thing" called Russia that risks to "capture" little Finnland in it's economic, monetary and political orbit.

Thu, 08/30/2012 - 09:47 | 2749269 Rubicon
Rubicon's picture

The Finns are Russians with white hair

Thu, 08/30/2012 - 09:48 | 2749270 Deo vindice
Deo vindice's picture

Pooling of funds always is appealing to the lazy or poor.

Never quite so much to the hard labourer who earned his wealth by those labours.

Thu, 08/30/2012 - 09:56 | 2749293 covert
covert's picture

finland is a mediocre place to do business.

Thu, 08/30/2012 - 09:55 | 2749291 vertexa
Thu, 08/30/2012 - 09:57 | 2749297 LawsofPhysics
LawsofPhysics's picture

This game of dominoes is taking forever.

Thu, 08/30/2012 - 10:08 | 2749339 SnobGobbler
SnobGobbler's picture

dominoes! no wonder i am losing; they said it was majong!

Thu, 08/30/2012 - 13:00 | 2749913 noses
noses's picture

It always takes longer than necessary if public servants are involved.

Thu, 08/30/2012 - 10:06 | 2749331 PaperBear
PaperBear's picture

Pooling funds so looting will be that little bit easier.

Thu, 08/30/2012 - 10:09 | 2749341 debtor of last ...
debtor of last resort's picture

A banking union is not progress. A Burning Banking Union is progress. Go Finland go, save us! Don't make the fascist playground larger.

Thu, 08/30/2012 - 10:26 | 2749398 Stuck on Zero
Stuck on Zero's picture

Laugh all you want at the Europeans.  At least they are attempting to do something about intolerable debt loads.  What are our leaders doing?


Thu, 08/30/2012 - 11:04 | 2749521 shovelhead
shovelhead's picture

Printing money...

Because it's fun and easy to do.

Print-a-bubble cleans those nasty toilet rings of debt. Try some.

Soon to be available in Euro-land.

Thu, 08/30/2012 - 11:06 | 2749523 el Gallinazo
el Gallinazo's picture

"An unequivocal show of support for the kind of progress we all hoped was being made in Europe"


To the ZH editor:  As Tonto said to the Lone Ranger when surrounding by hostile Indians - Who's "we," whiteman.  I certainly am not "hoping" for a continent wide, unelected, fascist state in Europe.

Thu, 08/30/2012 - 11:13 | 2749548 SavingsTherapist
SavingsTherapist's picture

We'll skip fascism this time and move straight into totalitarianism. Modern technology enables 100% surveillance of your actions. Why wouldn't they use it?

Thu, 08/30/2012 - 11:09 | 2749539 SavingsTherapist
SavingsTherapist's picture

Finns DON'T defend the banking union and carrying all of our money to some 1000 billion euros supranational monster in the name of stability and safety. Just our thoroughly corrupted politicians, like Jutta Urpilainen and Jyrki Katainen do.

They are an endless source of jokes here. Just like Ceausescu was in Romania.


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