Finland going Bankrupt?

[suomalainenamerican]

Greece is currently going bankrupt, and I hear next is Spain.
Many have said that because all the EU countries are so interconnected that Greece's bankruptcy will create a domino effect leading to all of the EU going bankrupt?
Do you think that Finland can avoid the same fate as Greece? Is Finland paying for bailouts like Germany?

[Jukka Aho]

Greece is currently going bankrupt, and I hear next is Spain.
Many have said that because all the EU countries are so interconnected that Greece's bankruptcy will create a domino effect leading to all of the EU going bankrupt?
Do you think that Finland can avoid the same fate as Greece? Is Finland paying for bailouts like Germany?

See this thread in The Pub. You might also want to take a look at this HS.fi article and the related articles linked to it.

[EP]

Is Finland paying for bailouts like Germany?

Yes, something like 1,6 billion euros.

I don´t see why Finland would follow Greece. Finland has not falsified statistics like Greece. And EU would not go anywhere, but maybe euro would in some countries. Greece should not have been let in the euro zone in the first place, they did not fulfill the criteria, but they were let in because they falsified their statistics. That country has obviously been living like a pig in the field.

[tuulen]

Greece is currently going bankrupt, and I hear next is Spain.
Many have said that because all the EU countries are so interconnected that Greece's bankruptcy will create a domino effect leading to all of the EU going bankrupt?
Do you think that Finland can avoid the same fate as Greece? Is Finland paying for bailouts like Germany?

It is important to consider that there is the EU and that there is the euro zone, and that not all members of the EU are in the euro zone.

Several euro zone nations currently have some economic troubles, most notably Greece, but, now that the European Central Bank and the International Monetary Fund have provided a 750 billion euro bailout loan fund, none of those economically troubled euro zone nations will go bankrupt, at least not at this time.

Finland, Germany and several other euro zone nations will be providing the money for the bailout fund. However, that money will only be loaned, and so it is expected that at some time in the future whatever money becomes loaned will be paid back, so Finland, Germany and several other euro zone nations can expect to eventually be paid back for the money they loaned.

However, it is also possible that any nation which borrows money could eventually default on their repayment of their loan, and in that case the money might never be paid back.

[Rosamunda]

California is currently going bankrupt, and I hear next is Arizona....

So who will bail out Uncle Sam? Too big to fail...?

[Upphew]

So who will bail out Uncle Sam? Too big to fail...?

China. But how long?

[Rick1]

Untill they are rid of all those dollars and that is not easy if they are only exporting.

[sinikala]

Greece is currently going bankrupt, and I hear next is Spain.
Many have said that because all the EU countries are so interconnected that Greece's bankruptcy will create a domino effect leading to all of the EU going bankrupt?
Do you think that Finland can avoid the same fate as Greece?

Finland is at the opposite end of the Eurozone scale to Greece, only Luxembourg is in a better position.

In graphics: Eurozone in crisis

Under the convergence criteria adopted as part of economic and monetary union, government debt must not exceed 60% of GDP at the end of the fiscal year. Likewise, the annual government deficit must not exceed 3% of GDP. However, as the maps show, only two of the 16 eurozone countries - Luxembourg and Finland - have managed to stick to both rules.

If you look at the "Recession" tab of that BBC page, you will see that although Finland's GDP shrank the most in 2009, Q4 of 2009 was level.

[tuulen]

California is currently going bankrupt, and I hear next is Arizona....

So who will bail out Uncle Sam? Too big to fail...?

This is a secret. Do not tell anybody.

In the US we have discovered how to make money. For instance, suppose I need a large pile of $100 dollar bills. All I need to do is to put some paper and some ink into a printing press, and then I can make a large pile of $100 dollar bills very easily and very quickly.

;-)

[Rosamunda]

... and guess who sells you all the paper

http://www.state.gov/r/pa/ei/bgn/3238.htm
The main export items from Finland to the United States are electronics, machinery, ships and boats, paper and paperboard, refined petroleum products, telecommunications equipment and parts.

[sinikala]

... and guess who sells you all the paper

http://www.state.gov/r/pa/ei/bgn/3238.htm
The main export items from Finland to the United States are electronics, machinery, ships and boats, paper and paperboard, refined petroleum products, telecommunications equipment and parts.

It's probably the other way round, banknotes are mostly printed on cotton not wood.

Anyway, here's an article which has been on the BBC in the last couple of days "Finland in double-dip recession"

http://news.bbc.co.uk/2/hi/business/10272574.stm

[luckykitty]

VAT increase. I don't think any countries should help bail out Greece if we can't bail ourselves out. But not like we get to decide

[Rick1]

It goes wunderful here in Finland, officials in Parlament have given themselves a raise of 20 percent, so they found a good purpose of the VAT-rise

http://www.taloussanomat.fi/politiikka/ ... 0109172/12

And then they say that south-europe is corrupt

[Oombongo]

It goes wunderful here in Finland, officials in Parlament have given themselves a raise of 20 percent, so they found a good purpose of the VAT-rise

http://www.taloussanomat.fi/politiikka/ ... 0109172/12

And then they say that south-europe is corrupt

I suggest SAW series like treatment followed by Guillotine treatment for these idiots

[kalmisto]

How Finland keeps its head above eurozone crisis:
http://www.guardian.co.uk/business/2012 ... s-eurozone