After French president Francois Hollande’s orotund statement, Finland, one of the 17-nation eurozone’s better economies stated on Tuesday that its growth forecasts for the next years are far from initial estimations.
During his trip to Japan, the French president avowed that the crisis plaguing the Eurozone had ended to the dismay of observers around the globe.
While Hollande was floundering around Japan, Finland’s central banks announced that the country’s economy would shrink by 0.8 per cent this year, conflicting earlier projections of 0.4 per cent growth.
After years of flattering the strength of Finnish companies, it seems that the recession-plagued eurozone is about to land in Finland.
Erkki Liikanen curbed Hollande’s silliness by injecting a dose of reliasm into the conversation.
“The risk of a renewed exacerbation of the (international) financial and debt crisis has not disappeared, but the probability is less,” he warned.
Finland’s deteriorating state is sour news for euro aficionados as the country is presently the only eurozone country that still upholds a triple-A rating by top rating agencies. Finland, and the customarily robust European dynamo, Germany are both beginning to display emblems of wearying thus putting the future of the eurozone in danger.