A rescue package for Portugal cleared another hurdle Friday when a key committee in the Finnish parliament approved the country giving its support to the bailout, dpa reported. European Union finance ministers are due to meet to approve the Portugal package on Monday. Finnish support is key to ensure the deal is not scuttled. Speaking in Brussels prior to the Finnish vote, EU economy commissioner Olli Rehn said he was "confident that the decision on the economic adjustment programme for Portugal will be made on Monday." The 25-member Grand Committee that deals with EU issues approved the package with a 15 to 5 vote, while 5 members abstained. In addition to supporting the Portugal bailout, the committee authorized Finance Minister Jyrki Katainen to negotiate on the EU's temporary and permanent bailout mechanisms. Approval for the rescue package had been expected after Katainen earlier this week secured backing from the Social Democrats. In Brussels, EU commissioner Rehn earlier said Finland's stance was "a responsible decision that will contribute to safeguard financial stability in Europe and in Finland." The Social Democrats' support was key since the nationalist and eurosceptic True Finns party that made big gains in April's elections said they opposed the package. The True Finns on Thursday announced they would not join a new coalition government. Meanwhile, Katainen, who is leading talks to form a new government, was Monday to hear from the parties he invited to join the government. The five parties invited to join the government were Katainen's conservative National Coalition Party, the Social Democrats, the Greens, the Swedish People's Party and the Christian Democrats.
