Committee
Eurogroup
Country
Finland

Author

Cite as https://mymun.com/ppdb/8105

Topic 1: Proposals for debt restructuring programs for any indebted Eurogroup country

The Republic of Finland has been part of the Eurozone since it came into existence in 1999. Our economy profited significantly from the common currency and the European Single Market. We have thus been a constant advocate of the project and will remain so in the future. However, when several Euro countries were plunged into a sovereign debt crisis in 2010 as a consequence of the global financial crisis, the flaws of the monetary union became eminent.

Finland fully acknowledges the responsibility and necessity of other Eurozone member states to help out the affected indebted countries and to prevent widespread contagion and the default of further Euro area countries. Those debt restructuring programs need to be very well outlined and cautiously designed as the ba...