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Kähkönen, Virve

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Helsingin Sanomat - Finland | 01/06/2012

Referendum on fiscal pact irrelevant

The votes in Ireland's referendum on the fiscal compact will be counted today. But Europeans needn't get tied in knots over the result because the pact itself is redundant, writes the liberal daily Helsingin Sanomat: "One must not forget that from the very start the fiscal compact was a stopgap measure - at least for Germany. It came into being as a dubious compromise at the summit in December after Britain undermined Germany's efforts to amend the treaties underlying the EU. So as not to come out empty-handed, the participants came up with the idea of the fiscal pact. ... The agreement tightens fiscal discipline but achieves nothing that couldn't have been accomplished with the laws that are now planned or in effect."

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