4 ms·
"A very good example is Finland and Sweden. The former has problems because of Euro but the latter thrives because they control their currency." There are seve
by Zirro 11y ago
"A very good example is Finland and Sweden. The former has problems because of Euro but the latter thrives because they control their currency."
There are several reasons for this - many of which are likely more important than the Euro - such as Finland having relied mainly on the declining paper industry and Nokia for exports while Swedish exports are more diverse.
- collyw 11y agoNokia are Finnish though.
- zurn 11y agoThat's the beauty of having your own floating currency though. Independent of what the problem is, your trade balance evens out automatically. If a country's forestry exports tank, imports will become more expensive and exports will become more competitive though currency depreciation. And people will eat more domestic cheese vs imported, stimulating domestic demand.
- samstave 11y agoAside from going to school for economics, what do I read to grok this concept much better?