Nach Angaben des IWF wird Spanien zum ersten Mal seit 1946 eine geringere Staatsverschuldung als Finnland haben.
https://www.eleconomista.es/economia/noticias/13623940/11/25/el-sorpasso-de-espana-a-finlandia-que-no-se-veia-desde-1946-destapa-la-revolucion-que-vive-la-deuda-europea.html
Von Competitive_Waltz704
11 Kommentare
>*Public debt has become the main threat to the global economy in recent years. Economists, institutions, and experts are increasingly convinced that the next economic crisis will be the result of a debt crisis in one of the regions with the greatest imbalances.*
>*A good example of the seriousness of the situation is that countries that were heavily indebted a few years ago now seem to be giving lessons to some of those considered frugal, not so much because of the improvement of the former, but because of the rapid deterioration of the public finances of the latter. A good example is the sorpasso that is about to take place in Europe, an overtaking that would have been unthinkable just five years ago and is now very close to happening.*
>*By the end of the decade, Finland will have more public debt than Spain (or vice versa, Spain will have less debt than Finland, a surprising overtaking), something that has not happened since 1946, when the Nordic country was tied to the costs of World War II. This shift is also a clear example of the new revolution that European debt is undergoing, in which countries that years ago were exemplary or beyond reproach are now gradually becoming the epicenter of the problems (France, Finland, Austria, etc.).*
1. Projected by 2030
2. It isn’t that Spain is doing a good job, but that Finland is doing a bad one, both will be above 90%
3. France and Finland haven’t been „exemplary“ for a very long time
That was too easy.
This is one of those benefits of migration that isn’t mentioned too often. Spain has done fanatically well and should be applauded. And part of the applause has to be that they have used migration to create this win win.
However they have done so at the cost of an accommodation and cost of living crisis in many cities.
Only Spanish voters can decide if it was worth it.
But from the outside it is a very impressive bit of sober governance that will pay off in the long run. Especially for pensioners.
The EU is plundering Finland by extracting money from economically exhausted Finnish taxpayers and by not buying Finnish goods.
Hopefully Finland can start receiving more EU funding.
Much of Finland’s problems are because of the war sanctions and the need to increase defense spending.
The next EU budget will start in 2028 and has to be negotiated before that. It has to be approved by unanimity.
The next budget also starts the process of paying back the COVID money. As Finland received very little there is little willingness to pay. Especially because some of the countries that received most of it are doing better.
Now that Finland and some other net payers (eg Germany where the anti-eu AfD is regularly in first place in opinion polls) have economic problems I can promise that there will not be any interest to give more money to the EU. Thus net receivers will get less money.
Next election here in Finland will be in april 2027 when the EU budget is being negotiated/approved. The current finance minister from nationalist finns party, which is the most anti-eu party in finland, will surely use the opportunity.
That is a nice building they have there
But is that because Spain is doing so well, or is Finland rather doing poorly? Unfortunately, I fear it’s the latter…
Who would have thought that a country with a socialist government is currently one of the best economic performers in the EU.
Does Finland have a real chance to get its performance back on track?
I understand that the trade break with Russia is very difficult and is a catalyst for the decline, but we need to accept that there will never be such close cooperation again, as neither Finland nor Russia will allow it for security reasons.
For now, the only thing Finland is succeeding at is its diplomatic efforts.