Finland minister calls for common Nordic currency

moneycn_0789The nations that make up Scandinavia are some of the most ardent in Europe about abstaining from joining the common European currency. But Finland’s Minister of Sport and Culture, Stefan Wallin, recently wrote an article in the regional newspaper Turun Sanomat stating that he feels a Nordic region with a single currency would be better positioned to weather global economic turmoil.

His article may be in response to the collapse of neighbouring Iceland’s currency a few months ago. Wallin feels that Sweden and Denmark should become members of the eurozone, while Norway and Iceland should apply immediately for membership in the European Union.

“A stable currency is something that the Icelanders of all people, but also other Nordic countries that have opted for the observation class of European integration, have gradually started to miss,” Wallin wrote in the newspaper column. “There is no escaping the fact that a small currency simply cannot bear the pressures of the boundless, real-time global economy.”

Suggesting that Finland was the Nordic nation paving the way to a more stable future, Wallin also commented that “Finland’s tour of duty in the core of the EU has been onerously long already.” Perhaps he’s seeking solace in the company of his close Nordic neighbours, or just looking for a helping hand.

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