Strictly speaking, Finland ought to have joined the EMS in winter 1995-96. But we in the Central Bank Council then recalled that, as everybody knows, the Finns are always somewhat downcast and despondent in winter. That is because of the lack of sunshine.
We thought it would be unfair to expect the Finns to take such an important decision as joining the ERM in the depths of winter. But after a fine summer it was very much easier for the Finns to take that step. And so we agreed in the Central Bank Council of the Bundesbank not to express any criticism of Finland in this matter.