Finland, the new president of the European Union, said on Tuesday it would not distinguish between big and small members of the bloc when it comes to enforcing budget deficit rules.
"Our standpoint is that all countries, big and small will be treated alike," Finance Minister Eero Heinaluoma told a news conference. "If we succeed in this it will benefit the whole eurozone."
Heinaluoma, whose government took over the rotating EU presidency on July 1, said Finland wanted countries to meet their obligations under the bloc's budget rules, which set limits on the size of budget deficits and debt. Finland has stayed within EU budget rules and in 2005 ran a general government surplus of 2.6 percent.
He pointed out that 12 of the EU's 25 member states are currently subject to some form of budget disciplinary action, but noted moves by many of the offenders to take action. "I am glad to see a change where all member countries take these challenges seriously," the minister said, noting good progress by Germany and France.
Heinaluoma said the main targets of the Finnish EU presidency were to promote the preconditions for economic growth and employment in Europe as well as strengthening Europe's role in the global economy.
Other themes included reviewing national programmes to promote the EU's Lisbon strategy for competitiveness, preparing financial markets legislation, renewing external loan mandates of the European Investment Bank and reviewing alcohol taxation.