Finland: Thorn In EU’s Bailout Plans

Finland is the consummate nanny state. The top income taxation is 30.5%, but the overall taxation is high, it averages out at 42.5%. It’s a beautiful homogeneous and clean country with docks and saunas and a feeling that the Soviet Union was just around the corner.

The Fins have a problem. They are being asked to help their fellow dead beat Euro-zone countries at the expense of their social welfare benefits. The freedom loving Fins are balking at the idea.

“The True Finns will not participate in a coalition government with any party ready to give further loan guarantees,” Vice Chairman Vesa-Matti Saarakkala said. The party vows to veto any increase in Finland’s contribution to both the temporary European Financial Stability Facility, or EFSF, and the permanent European Stability Mechanism, or ESM.

Finland is proving to the EU that bigger is necessarily not better.