Finland
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About Finnish society & culture. From snow to sauna, from natives to Nokia.
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Update:ECB's Liikanen Urges Fiscal Steps For Finland's Future | iMarketNews.com

HELSINKI (MNI) - The debt burden from the recession and the ageing population make fiscal consolidation in Finland a "necessity", the governor of the Finnish central bank, Erkki Liikanen, said in the introduction to the bank's quarterly bulletin published Wednesday.

"General government finances have moved into deficit, and central government debt is increasing rapidly," said Liikanen, who also sits on the Governing Council of the ECB. Without corrective policy measures, "the combined central and local government deficit will stabilise at just below 4%" of GDP.

"Clearly, fiscal consolidation is becoming a necessity," he said.
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ANALYSIS-After Portugal nod, Finland faces own fiscal timebomb 06:26 Hours ago

ANALYSIS-After Portugal nod, Finland faces own fiscal timebomb 06:26 Hours ago | Finland | Scoop.it
* Finnish population ageing fast, growth rates low

* PM elect averted parliamentary veto on Portugal aid

* Now pressing for fiscal reform; other parties opposed

* Six parties in talks to form coalition; progress slow

By Jussi Rosendahl
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Finland faces its own fiscal timebomb | Economy | Financial Post

Finland faces its own fiscal timebomb | Economy | Financial Post | Finland | Scoop.it
Fresh from grudgingly giving the nod to aid for debt-ridden Portugal, Finland is struggling to emerge from a political impasse that threatens to undermine its reputation as one of Europe's paragons of fiscal virtue...
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