Monday, May 6, 2013

Euro Can Grow to 25 States in Next Few Years in Finnish Scenario

http://www.bloomberg.com/news/2013-05-05/euro-can-grow-to-25-states-in-next-few-years-in-finnish-scenario.html

According to Finland's Europe Minister Alexander Stubb, EU and the euro have a bright future. He envisions the euro growing to 24-25 members in next few years. In respect to the crisis in Europe, Stubb believes that European authorities did all they could and now it is time for governments to follow on their budget promises, a task that is much easier said than done.
Finland has done something no other nations in EU were able to during the crisis. They kept a stable AAA credit according to three main ratings companies and the country was able to keep its budget within European Union's 3 percent deficit limit. While Finland stands as an example for the rest of the region, there are handful of countries that rely on international bailouts to pay their bills. Therefore, the challenge still stands and it will have to take more than one stable economy to restore confidence in the region.

1 comment:

  1. Of course Finland was the only one to pay its bills. It always has. Only country to pay back all its WWI reparations too.

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