Summary
It’s no longer the Greeks who get criticized for the size of their public sector. Now it’s the Finns.
Transcript
English transcript derived from validated English subtitles (WebVTT · SRT). Timestamps link to the original video.
00:00 Mauri Kotamäki: Greece is actually an interesting case. Sure, Greece is an aging economy too, but they’ve still managed to get their economy into some kind of growth and get their debt ratio coming down. So the country we were wagging our finger at about ten years ago — now it’s starting to look like we’re suddenly on the other side of the table. In Finland, the situation is that, at least as I see it, even a sharp acceleration in economic growth wouldn’t be enough to fix our public finances — it requires adjustment measures. Four percent growth is what would be needed for our debt ratio to start falling without any adjustment measures. That’s an unrealistic number. So that’s the situation we’re in right now.