Greece will cause problems for Finland

Greece’s irresponsible monetary situation has caused an enormous economic problem in the Euro zone. According to the Finnish newspaper Helsingin Sanomat almost half of the Finns would help the financially troubled EU Member States case by case. Greece will receive EUR 1.6 billion from Finland.

Minister of Finance in Finland Jyrki Katainen and Prime Minister Matti Vanhanen highlight that the loan will not be given out of loyalty but to protect Finland from the negative effects that the spread of the crisis would cause.

The Euro countries and the IMF demand that Greece will pay the loan back with the interest of 5 per cent. The price will be notably lower than the interest rate that Greece would have to pay back from the market-based debt.

The information in Finnish newspapers is very conflicting.

“The Greek crisis is a very serious crisis for Finland’s affluent society,” says Minister Katainen.

Then again, PM Matti Vanhanen has stated that Finland, Germany and Netherlands seem to be sheltered from the spread of the economical crisis.

There seems to be good sides in this situation too.

The decline in the market rates of the Euro will improve the competitiveness of the European products in the global market which will benefit Finland’s export-led economy.

Tuuli Lindgren, Minna Kosonen, Marianne Simola, Katja Saari

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One Response to “Greece will cause problems for Finland”

  1. peterverweij Says:

    So it is self interest to help out Greece and good for export. Any estimate. But the cartoon shows the way the down(where is the caption and source), but for finland it could go up? How divided are the newspapers? There are too many angles in the story, choose one and detail

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