Can Finland profit from the crisis of Euro?

Finland can actually profit from the Euro crisis started by Greece, says economist Carlo Eräkallio on his article in Helsingin Sanomat 7th of May.

In the EU, Finland gets the most out of the whole situation. Our biggest export business is to Russia, Sweden, United States and Great Britain where their currency has strengthened. Only less than a third of our export business is within the Euro countries. Also our interest rate stays low because of the crisis.

Euro countries now try to save Greece although the bylaws forbid it. And if we fail to save Greece the consequences might be miserable. Greece might need the rest of us to forgive its loans, which can throw off other countries as well.

Then there is a risk that the whole Euro zone can scatter. The weak links will stay and the wealthy countries will escape. Euro zone would split into two zones: rich and poor.

Finland needs to play it well to get to the winning team.

Emmi Sjöholm

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One Response to “Can Finland profit from the crisis of Euro?”

  1. peterverweij Says:

    How much has the euro dropped against the other currencies? How much would be the increase of the export for Finland. Secondly how much is Finland contributing to save Greece. Your story is more opinion then news, would gain importance if you have more figures and quotes.

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