Finland's parliament to debate euro zone exit next year

PanARMENIAN.Net - Finland's parliament will debate next year whether to quit the euro, a senior parliamentary official said on Monday, November 16, in a move unlikely to end membership of the single currency but which highlights Finns' dissatisfaction with their country's economic performance, Reuters reports.

The decision follows a citizens' petition which has raised the necessary 50,000 signatures under Finnish rules to force such a debate, probably the first such initiative in any country of the 19-member euro zone.

"There will be signature checks early next year and a parliamentary debate will be held in the following months," said Maija-Leena Paavola, who helps guide legislation through parliament.

The petition - which will continue to gather signatures until mid-January - demands a referendum on euro membership, but this would only go ahead if parliament backed the idea.

Despite the initiative, a Eurobarometer poll this month showed 64 percent of Finns backed the common currency, though that is down from 69 percent a year ago.

But the Nordic country has suffered three years of economic contraction and is currently performing worse than any other country in the euro zone.