09-02-16

"This spring will be make-or-break for the Finnish economy"

If the government will get its reform agenda right, “we’ll see Finland again move towards an economic miracle,” Finance Minister Alexander Stubb tells Bloomberg

Stubb sees Finland's economy at crossroads

Finland is at crossroads, its finance minister suggested in an interview with Bloomberg. “This spring will be make-or-break for the Finnish economy,” Alexander Stubb said. If the government will get its reform agenda right, “we’ll see Finland again move towards an economic miracle,” the minister reckoned. The government has given trade unions and employers less than two months to suggest how to reduce labor costs by five percent, Bloomberg reported. The goal is to make the country’s economy competitive again via internal devaluation.

The cepDefault-Index 2016 shows that falling creditworthiness has become firmly established in six eurozone countries: Finland, Greece, Italy, Portugal, Slovenia and Cyprus. Finland has exhibited falling creditworthiness since 2013.