In the last quarter, as indicated by Eurostat, all the European Countries have seen increasing their GDP except four: Portugal (0%), Estonia (-0.5%), Greece (-0,5%) and Finland (-0.6%).

The case of Finland, in particular, is worrying and needs to be highlighted.

Helsinki is crossing the worst economic crisis since many years and the outlook for the future is not encouraging. The Minister of Finance himself has defined Finland as "the new sick man of Europe".




There are three main causes of this situation: the crisis of the most important Finnish company, Nokia; the economic weakness of Russia (main importer of Finnish goods) and the high cost of labor.

The ageing population and the difficulties to make labor reforms don't allow to expect a better situation in the imminent future.

Two considerations about Finland.

First, the case of Finland is another sign of a general problem in Europe. Everybody has to follow rigid economic policies that don't consider the differences between one Country and another. But at the same time, nobody can depreciate the value of the currency. The result is a paralysis that can be solved or with a European economic policy or breaking Euro. 

Second, Finland had a strong position against a common policy for the refugees. Another contradiction in Europe: support from Brussels is very welcome, but solidarity is not contemplated.

It is Europe herself to be sick.