Urpilainen told Parliament that the debate in Finland on dealing with the euro crisis was one step ahead with the demands voiced for investors to shoulder responsibility in the support package created for Cyprus. That policy, she stated, is now the same for the whole of Europe.
"This, for the first time is a bail-in, which is a sustainable solution based on the conditions of the market. This protects the taxpayer from the mistakes of others," said Urpilainen.
She added that Finland's demands were met for investigations of money laundering by Cypriot banks, ensuring Cyprus' ability to handle debt, and the inclusion of the International Monetary Fund.
The Finance Minister also pointed out that the use of the European Stability Mechanism means that Cyprus is not being given support directly from the Finnish budget.
Soini: Finland supporting money laundering
Opposition Finns Party leader Timo Soini slammed the Cyprus package as being morally, economically and politically irresponsible.
"Compared to the size of the Cypriot national economy, the sum of the support package is enormous. Finnish tax revenues are now being used to support a tax haven that does not collect its own revenues. In addition, we are rescuing very suspicious sources of money and in doing so supporting money laundering," Soini argued.
The other opposition party, the Centre, criticized the government for what it sees as an increase in Finland's responsibility and its risks in dealing with the euro crisis. The Centre also raised the issue of suspected money laundering by the Cypriot banking sector.
Both the Finns Party and the Centre Party put forth their own motions for a vote of no-confidence in the government. On Friday, Parliament will vote which to accept and then proceed with a vote measuring confidence in the government's actions.