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Business Daily: Finland’s Long Economic Winter

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Finland’s Long Economic Winter

23/02/2016 GMT

BBC World Service - Business Daily, Finland’s Long Economic Winter

Why is Finland one of the worst performing economies in Europe? And is Nokia to blame?

Why has this former star economy become one of the eurozone's worst performers? Is Nokia to blame? Or is it the government's strict adherence to austerity? Edwin Lane reports.

Edwin Lane explores why Finland is one of the worst performing economies in the eurozone, after its impressive growth came to a dramatic end five years ago. What role has the demise of Nokia - once Finland’s biggest and brightest commercial star - had on the country, and why is unemployment 9% and rising? Finland’s Finance Minister Alexander Stubb - the flag-bearer for austerity in the Eurozone - explains why wages need to be cut, and why Finns need to accept that the immediate future is one of further contraction rather than growth.
(Picture: Sunset over Helsinki; Credit: Edwin Lane/BBC)

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