
Finland is the poster child for why the euro doesn’t work - doppp
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/23/finland-is-the-poster-child-for-why-the-euro-doesnt-work/
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thrill
Ah yes, bad luck. One of those things Heinlein was a master at dissecting.

Choices were made, and pipers will be paid. Signing on to a currency that a
historically frugal nation can't individually control is perhaps not a wise
choice when the others who influence the value of that currency have been
historically, let's say, less frugal; spending on things that do not increase
productivity but pushes the problem to the next generation; creating a
bureaucratic structure that dissuades innovation because stability is
considered more important, and so on.

Yet the "answers" from Krugman and his acolytes such as the author is to spend
future influence (what does the author think devaluation is?) to make things
look better in the shower, and poohpoohing those who recognize that
devaluation is short term theater.

When these _decisions_ don't work - we will call it bad luck.

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jandrese
The article calls Finland's recessions basically the Nokia recession. Nokia
suffered the fate of many large companies with established products, their
existing business was too good to threaten with radical new products. Then a
fresh faced competitor appears with the disruptive technology you had been
putting off and cuts your legs off.

While this is clearly partially due to a lack of vision at Nokia, to the
Finnish government it is just pure bad luck. They don't control what companies
do, they just collect taxes and provide services.

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Oletros
More Washington Post anti euro propaganda? Shocking

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louhike
It seems to be pretty common. Does anybody know why so?

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tosseraccount
Finland's government went on a recent spending "spree":
[http://www.tradingeconomics.com/finland/government-
spending](http://www.tradingeconomics.com/finland/government-spending)

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EmanueleAina
[http://www.nytimes.com/2015/07/21/upshot/finland-shows-
why-m...](http://www.nytimes.com/2015/07/21/upshot/finland-shows-why-many-
europeans-think-americans-are-wrong-about-the-euro.html)

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payne92
I think a better title is: "Finland is a poster child for Apple decimating 4%
of your economy" (Nokia)

