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On September 16, Finland’s prime minister, Paavo Lipponen, said his country would soon join the EU’s exchange rate mechanism (ERM). He would not specify a date. Other ministers have been equally reticent, both in public and private. Speculation has already taken the likely entry date through to this month and it’s looking as if the move will come after the European parliament elections on October 12. Juha Ahtola, chief economist at Merita Bank, dismisses the date game as distracting: “The important thing is that Finland will be joining and the markets have taken this on board. |
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