February 21, 2012
Finland, as so many other countries in Europe as well as in Asia, experienced a devastating economical collapse in the 1990’s.
This writer has been researching the event privately and in the Uppsala University, Sweden. The summary presented here is only a superficial scratch of the very complex case. Only main events, outcomes together with the legal analysis will be presented.
The huge amount
of victims should finally get justice.
First in 1992 when the chaos was well on the way started to happen. In March President Mauno Koivisto invited the top baking executives to the presidential premises. The message of the banks was that they should get rid of liabilities up to FIM 180 billion.
When calculated this number with all liabilities the real figure would be
about FIM 256 billion. This equals about 45 percent of all liabilities on
the banking sector. The plan was accepted and adopted.
The invited group, about 40 people, consisted of the Supreme Court members, judges from lower level courts as well as professors of law.
authority was also invited. According to the invitation letter the objective
of the seminar was to evaluate and criticize the judicial operations and
practice. The outcome of the seminar was the total collapse of the legal
system in Finland. The effective remedies and fair trial as legal principles
were removed. One study presented the result of the meeting with the
following figure - out of about 3000 hearings banks won 2998 and the debtor
Parties agreed that the buyers were entitled to transfer customers with loans and guarantees to the bad bank Arsenal. The right to transfer was defined through the ownership of companies and through loan agreements i.e. promissory notes and notes of debt etc.
It was also agreed that the banks were entitled to transfer certain lines of businesses which are real estate business and any business related to real estate business, other investment business, construction, any retail business, hotel and restaurant business, any business related to leisure business.
This meant from bank customer point of view that the banks were entitled to transfer any customer or force the company in bankruptcy. Beside private people about 22 percent of all active companies faced the bankruptcy. According to the bank of Finland provided statistics about FIM 256 billion worth nominal value loans were transferred out from banks.
Due to the undervaluation of properties the real amount of stolen property is about 1,7-2 times of the nominal value.
This is that the stolen value would be about
70-90 billion Euros.
Therefore it is important to discuss the
additional possibilities how the victims of the Finnish plot would be able
to enjoy the benefits of fair justice, claim damages and begin the healing
The crime against humanity is described in the Convention on the Non-Applicability of Statutory Limitations to War Crimes and Crimes Against Humanity of the United Nations as follows:
Thousands of deaths should be analyzed against elements of crime like causing death by indirect methods or extermination by inflicting conditions of life.
Further there are questions concerning serious
discrimination, expropriation, crime against humanity of imprisonment,
torture i.e. the perpetrator inflicted severe physical or mental pain or
suffering upon one or more persons, persecution i.e. the perpetrator
severely deprived, contrary to international law, one or more persons of
fundamental rights, other inhumane acts i.e. the perpetrator inflicted great
suffering, or serious injury to body or to mental or physical health, by
means of an inhumane act.
Among other things following requirements are presented by the United Nations:
The Finnish people are persistent and unyielding.
At the moment this process needs international support and some resources. The European international lawyers have accepted the case and they are ready and willing to file the case. The proof and documentation exists.
This trial would be partly a trial against the
international financial cabal.