the British than the symbolic German pact offer. In analogy to the pattern in dealing with economic relations it was the legation that defended Finnish interests whereas the London Foreign Office argued in favour of the Soviet alliance.

Before the German minister could rejoice in the discontent the British created by negotiating with Moscow his own country signed Finland away in the Hitler-Stalin Pact without even informing him. From now on the threat of entanglement in a war forced Finland to heed German demands scrupulously.

A purely political analysis is insufficient and economic relations are essential for a comprehensive and proper history of the big powers policy towards Finland in the time between the wars. On the purely political plane German influence grew relentlessly although orientation towards Germany was notdesired by the Finnish government. The stronger Germany grew the more its demands for absolute political neutrality had to be heeded. On the other hand, a look at Finnish-British economic relations reveals a squarely pro-British orientation. Germany by contrast was denied access to the Finnish polar sea port of Petsamo. For the UK with its vast trade deficit increased exports to Finland were of paramount importance. Especially the reshaped Finnish government with Erkko as foreign minister directed public expenditure in favour of English industry wherever possible. Even Finnish conservatives who appreciated the value of retaining close ties with Germany were not opposed to expand Finnish-British relations. A comprehensive look at economics, politics and culture makes German pressure on Finland appear like a futile effort to prevent an outdated