Jumping Ship? Finnish Parliament to Consider Withdrawal From Eurozone

The Finnish Parliament is planning consider a corresponding petition that gathered more than 50,000 signatures. Authors of the initiative are calling for a referendum on whether or not to keep the euro or switch to a national currency.

The decision to consider Finland's withdrawal from Eurozone was made by the Parliament on Thursday, March 10. The exact date of the next meeting has not yet been determined, but it is expected to take place in the coming weeks, Deutsche Welle reported, referring to the information published by Reuters.

The Parliament's decision was urged by a petition calling to give up the European currency. The document gathered more than 50,000 signatures. Its author, the country's former foreign minister Paavo Väyrynen, argues that the population is "widely supporting" the idea of giving up the euro and switching to a national currency.

Euro opponents believe that such move would make it easier for Finland to deal with serious economic problems. With a flexible exchange rate, the country could restore the competitiveness of its economy, the petition's supporters argue.

At the same time there are doubts that the initiative will be approved even if a referendum on the issue takes place in the near future. According to a poll conducted in November 2015, 64 percent of Finns were in favor of their country remaining in the Eurozone.