After a period of speculation over the probability for Finland's new parliament to block Portugal's aid package came to an end as the nation will back the bailout as far as Portugal agrees to the conditions of the bailout including asset sales.
Finance Minister Jyrki Katainen told reporters yesterday that Portugal who needs the agreement of all the 17-euro members to acquire the bailout must also start seeking private investors to ensure that the funds will stay in the country before the bailout can be made.
As for the parliament that was the matter of debate and speculation after the serge in euro-skeptic parties, an agreement has been made as well. Katainen who leads the parliament's biggest party after the elections said we have reached a common understanding as he held talks with the Social Democrats the second-largest group since the vote.
The initial understanding between parties comes as Katainen struggled to attain this consensus ahead of the EU meeting on May 16 which will be focused on bailouts and on the fiscal conditions in the nation with Greece and Portugal center stage.
Katainen also said in a joint press release with the Social Democrat leader Jutta Urpilainen that Finland will require collateral from any nation seeking assistance from the European Financial Stability Facility (EFSF) after Portugal.