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Finland emerges as the 'new sick man of Europe' as euro's worst performing economy
Finland has emerged as the eurozone's worst performing economy, contracting by a stark 0.6pc in the third quarter.
The northern creditor nation has been mired in stagnation for the last three years, leading its finance minister to dub it “the new sick man of Europe”.
Its economic problems stem from a collapse in demand from neighbouring trade giant Russia, highly uncompetitive labour costs, and the decline of its most successful company – Nokia.
The third-quarter numbers show that Finland – which has taken a tough line against eurozone bail-outs for southern european economies – managed to perform worse than Greece, where the economy shrank by 0.5pc.
The European Commission estimates that Finland will manage just 0.7pc growth next year …. http://www.telegraph.co.uk
Source: http://luismmx.blogspot.com/2015/11/finland-emerges-as-new-sick-man-of.html
