This is classic. At left is Juha Sipilä, a millionaire who became Finland’s Prime Minister in May 2015. At right is his Finance Minister Alexander Stubb, a jet-setter and right-wing ideologue who likes to wear expensive suits and maintain a posh lifestyle while he tells ordinary Finns that they must make do with less and less. The two are doing a triumphant “fist bump” to celebrate their crushing of Finland’s labor unions so that workers submit to lower wages and fewer benefits.
Up until mid-2011, Finland vacillated back and forth between having a trade deficit and trade surplus. This happened because Finland’s economy was heavily dependent on exporting cell phones and timber products, including paper, which go through cyclical phases of demand. When the economy was strong, Finland self-righteously condemned countries like Greece, for which no amount of austerity can ever be enough. Average Finns enjoyed very high job security and an average national wage of 25 euros per hour (USD $28.00).
All of that changed with the partial demise of Finland’s cell phone business, plus a shrinking demand for Finland’s forestry products. (Apple made Nokia go from being synonymous with cell phones to being synonymous with obsolete phones. ) The recession became even worse when Finland’s politicians agreed to abide by the USA’s sanctions against Russia, which had been one of Finland’s biggest trading partners, especially in dairy and agricultural products. Even without sanctions, Russia would be buying fewer imports from Finland because of the fall in oil prices. Finland fell into the red zone, and its recession has been worsening for the last four years…
When economic times were good, and euros flowed into Finland, the country had an AAA rating on its sovereign bonds. No more.
Finland’s largest export industries had been electronics (21.6 percent), machinery, vehicles and other engineered metal products (21.1 percent), forest industry (13.1 percent), and chemicals (10.9 percent). Now everything is down.
Finland is the only Nordic country to have submitted to the euro-scam, and is therefore the only Nordic country that is badly suffering. Denmark and Sweden wisely did not adopt the euro, whereas Iceland and Norway never joined the European Union, let alone the euro-zone.
The two men in the topmost image are doing a fist bump because when economic times were good, Finland’s labor unions were too powerful to crush. Now the unions must submit to the rich owners if workers are to have any jobs at all. Unions have agreed to slashed wages and benefits, and to the elimination of many labor laws. Unions also submitted to longer working hours, lower holiday bonuses, larger pension contributions for workers, and lower pension contributions for employers.
Average Finns are now experiencing the pain that they had smugly wished on Greece. On 11 March 2016, farmers from all over Finland drove their tractors to Helsinki to block city roads and bring the capital city to a standstill. They were protesting the sanctions against Russia, which have badly hurt Finnish farmers. Many had driven their tractors for hundreds of miles.
Thousands of pensioners and students have also taken to the streets. Helsinki University has off 980 people so far.
Prime Minister Juha Sipilä (the millionaire) and his Finance Minister Alexander Stubb want to start with 4 billion euros in sending cuts. Stubb has warned labor unions that if they do not continue to submit to austerity, Stubb will ram even more radical austerity down their throats. This attack on workers is called “internal devaluation.”
Few economists see any magic wand to boost growth, given how few new industries are making up for weakness of Finland’s electronic and forestry exports. We are all clueless on how to get long term economic growth,” said Markus Jantti, a professor of public finances at Helsinki University.
Here is the “magic wand”…
 Dump the euro and go back to using the Finnish markka. If neighboring Sweden doesn’t need the euro, then Finland doesn’t either.
 Stop participating in the sanctions against Russia.
 Launch massive public works programs like the National Socialists did in 1933, which caused Germany to rise in only five years from Europe’s most depressed economy to Europe’s strongest. Germany went from severe unemployment to having a labor shortage. Or launch things like the “New Deal” programs in the USA, with its Works Progress Administration, its Civilian Conservation Corps, and so on.
Of course, this is not possible, since it would cause the gap between the rich and the rest to not grow so wide.
Some Finns understand that the euro currency must go, but Erkki Liikane, head of the Bank of Finland, says Finland must keep the euro at all costs.
In return for this, the European Central Bank in Frankfurt lets Liikane sit on the ECB committee that makes monetary policy decisions. Central bankers are alien entities that must be kept under very strict control at all times.
These people hate me more than they hate Blacks and Jews.