Statistics Finland reported on Thursday about Finland’s public debt to Eurostat. While the deficit, at 2.7 % of the GDP, was a modestly positive surprise, the debt increased to 63.1 % of the GDP. It remains to be seen how the Commission will react to Finland’s debt problem. Managing to put the deficit under the EU limit of 3 % may give Finland some breathing room, but the poor economy gives little hope for reducing the debt. The Commission has abandoned the agreements about how member states are reproached, and makes up new rules on the fly. It may warn Finland, or it may not. Finland is not the biggest worry the EU has right now.
Journalist: Tuomas Niskakangas