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Finland has been in a depression for a while. Their GDP is still 6pc below its previous peak. [1] If this is a last desperate ploy to prevent secular stagnatio
by randomname2 11y ago
Finland has been in a depression for a while. Their GDP is still 6pc below its previous peak. [1]
If this is a last desperate ploy to prevent secular stagnation one has to wonder how effective this will be, and how "temporary" - for now this is sold as temporary but the moment it is withdrawn their economy would truly crater.
[1] http://www.telegraph.co.uk/finance/12001895/Finlands-depression-is-the-final-indictment-of-Europes-monetary-union.html http://www.telegraph.co.uk/finance/12001895/Finlands-depress...
- raintrees 11y agoThanks for the link. I had read another rendition of this, but it was heavily flavored with hysteria wusing terms like "helicopter money." This looks more like a work-around attempt to correct their economy after major commodities slump, Nokia problems, etc. Being in the Euro camp, they are unable to devalue their currency, as a country might normally choose to do...