More borrowing will not solve Europe's debt crisis

The True Finns party has just won a stronger position in Finnish politics. This has a wider significance, because their platform includes refusing to join in any EU-wide bailout of Portugal.

 The True Finns are not the majority in Finland, so they may not prevail on this issue. There are many possible permutations to form a government and its platform in the divided politics of modern Finland. The EU, which usually gets its way in these matters, may of course have some surprises in store and force Finland to accept the inevitability of a further bailout despite any protestations. However, the True Finns’ position matters more to investors than their weight in the complex and sprawling world of EU politics. It matters, because the True Finns may be speaking for many other ele...