Finland
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About Finnish society & culture. From snow to sauna, from natives to Nokia.
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Finland Turns to Venture Funds to Rescue Economy: Nordic Credit

Finland Turns to Venture Funds to Rescue Economy: Nordic Credit | Finland | Scoop.it
Finland is turning to venture capital financing as it searches for ways to jolt the economy out of a recession without jeopardizing its AAA rating.

 

The northernmost euro member wants to attract investors for a new 1 billion-euro ($1.28 billion) program and help startup companies without adding to its budget deficit. Finland is promising that investors who buy into the venture will take the lion’s share of potential profits. The program will also target growth companies.

“The debt crisis caused investors to retrench from this riskier startup funding,” Petri Peltonen, head of the enterprise and innovation department at Finland’s Economy Ministry, said in a telephone interview. “We’re now trying to attract private investors to take more risk that will help boost economic growth and create jobs.”

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Dignity and Democracy: Escaping the Clutches of the Financial Markets - SPIEGEL ONLINE - News - International

Dignity and Democracy: Escaping the Clutches of the Financial Markets - SPIEGEL ONLINE - News - International | Finland | Scoop.it
In today's Europe, the people are no longer in control. Instead, politicians have become slaves to financial institutions and the markets. We are partly to blame -- and changes are urgently needed to nurse European democracy back to health.
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Finland Needs Substantial Cuts to Balance Budget, Liikanen Says

Finland’s government must make “substantial” spending cuts and increase taxes to bring finances onto a sustainable footing, the Bank of Finland said.

“If these steps are not taken in time, we could end up in a situation where we are forced to rapidly reduce the general government deficit at a time when economic growth is weakening,” Governor Erkki Liikanen said today in an e-mailed report. “The deteriorating economic outlook puts Finland’s public finances in a different light.”

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Europe: Portugal, Finland Threaten Summit

Europe: Portugal, Finland Threaten Summit | Finland | Scoop.it
Portugal's government is in danger of collapse as the country's opposition parties oppose another austerity package, a move that could force the country to seek a bailout from the rest of Europe and the International Monetary Fund.
Finnish support is needed because its strong credit rating (it is one of only six AAA rated countries in the eurozone) will help the bailout and financing mechanism to work.
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