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Had the country retained its own currency, the long, hard adjustment that it is now seeking to achieve by lowering domestic costs could have been attained much more easily by allowing the markka to depreciate.

If Finland still had its old currency, the markka, it would have fallen in value on international markets.

Another major advantage for Finnish businesses has been the lower cost of raising debt from financial markets now than when it had its own currency, the markka.

Soini, who has said Greece should be allowed to default and talks openly of reintroducing the Finnish markka, conceded defeat, saying he wasn’t “disappointed.”

Ongoing speculation   resulting from a lack of confidence in the government's policies forced   Helsinki to devalue the markka by about 12% in November 1991 and to   indefinitely break the link in September 1992.