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The fate of the EU’s €750 billion recovery fund could lie in Helsinki.
The Constitutional Committee in Finland’s parliament announced Tuesday that two-thirds of the house must support the EU legal changes that are needed for Brussels to raise debt to finance the cash pot, Finnish media Helsingin Sanomat reported.
All EU member countries must approve the legal changes, known as the Own Resources Decision, before the European Commission can issue bonds on financial markets.
No money can be raised without the support of all EU parliaments, leaving the recovery fund at the mercy of Finnish politics.
Finland’s coalition government is scheduled to hold a press conference Tuesday at 6:30 p.m., local time, Helsingin Sanomat said.
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