Catherwood LibraryILR School

Finland, despite the highest credit rating possible, has fallen behind its Euro-Zone counterparts in several key measures and is losing jobs while elsewhere the recovery is gaining steam. Finland?s six-party coalition has taken austerity measures recommended to other countries and implemented them, but has also seen its unemployment continue to rise even recently. Finland?s economy is expected to grow about 1.3% compared to Sweden at 2.3% and Norway at 3%. Finland?s jobs issues are not totally due to the recession and the austerity implemented by its government, the Finns? economy is concentrated in several key industries, some of which like the paper industry are declining at a quickening pace. As Finland looks to the future it seems that modifications to its welfare programs are some of the first proposals the parliament will review to attempt to revitalize one of the few countries left with a perfect credit rating.