Posted on November 18, 2015 by Martin Armstrong
Even traditional economists are now waking up to the downside of the euro. The euro was supposed to promote European harmony by eliminating costly currency conversion fees, but the real cost has been this crazy idea that the federalization of Europe would prevent war. As a result, Finland is now seen to be in a perpetual state of an economic crisis with the economy imploding rapidly. Over the past four years, we have seen the Finish economy shrink, only to pick up speed in the last three years. Overall, the economy really peaked in 2007, so there seems to be little hope of reversing this trend until about 2020.
Traditional mainstream economists are now calling for Finland to exit the euro. The Finnish Parliament will now have to debate the euro exit in the coming year due to a citizens’ petition that gathered the required 50,000 supporters. Mainstream economists are now demanding that Finland should reintroduce its own currency once again.
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