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A referendum is too slow a mechanism to pull out of the eurozone, says Paavo Väyrynen, one of the Centre Party's representatives in the European Parliament.Paavo Väyrynen (Centre), a Member of the European Parliament, has urged the Government of Prime Minister Juha Sipilä (Centre) to initiate a process to leave the eurozone in an interview with YLE.

It was recently confirmed that a citizens' initiative drawn up by Väyrynen to organise a referendum on the eurozone membership has received the required 50,000 statements of support.

Väyrynen, however, told the national broadcasting company that he is no longer in favour of holding the referendum and that the primary objective of the initiative was to encourage Finland to withdraw from the monetary union.

“The referendum would take years,” he explained. “We have no time to waste, with the economy being in as bad a shape as it is and with the euro area moving rapidly towards a debt union and federation.”

Väyrynen, an honorary chairperson of the Centre Party, believes the decision to withdraw from the monetary union should be made similarly to the decision to join the union in 1998 – by submitting a statement on the membership to the Parliament.

The Government is under the constitution allowed to submit reports or statements to the Parliament on matters related to national governance or international relations. The Members of the Parliament, in turn, have the option of putting forward a vote of no confidence in the Government during the ensuing debate.

“We should leave the euro area on the basis of a statement and only hold a referendum if we wanted to re-join the euro,” Väyrynen told YLE.

He also acknowledged that his proposal is unlikely to receive much support in the current Parliament.

Aleksi Teivainen – HT
Photo: Petteri Paalasmaa / Uusi Suomi
Source: Uusi Suomi

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