The European Systematic Risk Board (ESRB) has issued a warning to eight EU countries, including Finland, on the medium-term vulnerability in the housing market. The task of the ESRB, which has the power to issue warnings and make recommendations, is to monitor developments in financial markets and take steps to prevent and limit risks that they believe to be a threat. The ESRB regards Finland’s vulnerability to be its rate of household debt and growing levels of indebtedness – particularly amongst some groups of households. Household debt is currently at a historical peak and Finland’s debt-to-GDP level is above the average for EU countries.
Media: Verkkouutiset / Nykypäivä
Journalist: Arno Rydman
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