skip to main content

Finns' support for euro falls as parliament prepares for referendum debate

A new poll shows that 54% of Finns supported remaining in the euro zone
A new poll shows that 54% of Finns supported remaining in the euro zone

Support in Finland for keeping the euro currency has fallen to 54% amid persistent economic problems, an opinion poll shows.

This comes as parliament prepares for a debate next year on whether to hold referendum on euro membership. 

Despite recovery elsewhere in the euro zone, Finland has suffered three years of economic contraction and some Finns say its prospects would improve if it returned to the markka currency. 

Parliament had to agree to a debate on a possible referendum after a petition raised the necessary 50,000 signatures. 

The debate will probably be held in the first half of 2016. The move is unlikely to end membership, analysts say. 

The poll by public broadcaster YLE published today showed that 54% of Finns supported remaining in the euro zone, while 31% wanted to leave. 

Asked whether Finland would do better outside the euro zone, 44% answered yes.

Last month, a Eurobarometer poll showed 64% of Finns backed the euro currency, down from 69% a year earlier. 

Finland's foreign minister and the leader of eurosceptic The Finns party Timo Soini said that even if many believed the euro was harmful for the country there was not enough political will to leave the currency bloc. 

"I think Finland should not have joined the euro. But how to dismantle that decision, that is a very complicated question," he said. 

He noted that Finland adopted the euro in 1998 without a referendum, while neighbours Sweden and Denmark voted down the idea of adopting the euro a few years later. 

Finland was once known for its prudent fiscal policy, but after the global financial crisis its recovery has been hit by a string of problems, including high labour costs and recession in neighbouring Russia. 

The European Commission expects the economy to grow by just 0.3% this year and by 0.7% in 2016, which are lower figures than for any other EU country except Greece. 

Pointing to the example of Sweden, many Finns say the markka would help the economy as it could devalue against the euro, making Finnish exports less expensive.