Saturday, January 21, 2012

Finnish presidential elections

The biggest foreign policy question facing Finland is the future of Eurozone.

Our elected representatives can guarantee junk bonds with 20% of our GDP have already pledged 26% of our GDP to junk bond funds, and allow European Central Bank to create 5% inflation with bailouts and quantitative easing.

The politicians can also say "no" to worst excesses, and keep Eurozone as a group of countries which are small enough to default individually; that is a stregth. Greece default means more evolution through trial and error and fewer single points of failure.

EU and euro have been positive forces thus far, but now I see more threats than opportunities in tighter integration.

During Finland's EU negotiations, Paavo Väyrynen demonstrated both ability to oppose EU and also pragmatism (unlike Timo Soini) to admit defeat after the vote had been cast against his views and join again the negotiation tables where decisions are made.

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