After many threats and requests for guarantees from Greece for the granting of new aid, Finland finally decided to take the decisive step in favor of the Eurozone. The Helsinki Parliament has approved the expansion of the EU state-saving fund (EFSF) decided on 21 July at the last euro area summit. There were 102 votes in favour, 66 against and 30 abstentions. In the end, therefore, the majority got the better of the Eurosceptic opposition.
The amount of the Fund will grow from 250 to 440 billion euros and will also see its maneuvering capabilities expand. In fact, it will be able to finance the recapitalization of European banks by purchasing government bonds on the secondary market and guaranteeing credit to the countries of the Eurozone that have not received aid.
