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Home BUSINESSStructural problems responsible for economic crisis, says PM
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Tue, 27 Aug, 2013 01:54:36 AM
50 years needed to overcome situation: Governor
FTimes-STT Report, August 27

The Prime Minister, Jyrki Katainen on Monday said that the ongoing economical crisis in the country is not only the impact of global recession but also caused by some internal structural problems.
 
“Structural reforms are essential to overcome the crisis as time and global economic growth will not be able to solve economic crisis of the country,” said the prime minister while speaking at the Finnish Science Centre Heureka in Vantaa.
 
Katainen said that the internal structural problems should be identified and solved to overcome the crisis of the country.
 
As many as 50 policy-makers and labour market representatives participated in the programme where most of the speakers expressed similar views, although some of the discussants said that the crisis is the impact of global recession.
 
The governor of the Bank of Finland, Erkki Liikanen termed the crisis as a long term problem and said that the crisis would be overcome slowly.
 
The governor said that the existing crisis would be solved through cutting expenditure for a long time and it might take 50 years.
 
Liikanen said that the country’s people are afraid of inviting foreign workforce as they think it would create unemployment for them but international researchers have proved that arrival of foreign workforces will help the growth of the economy.
 
 

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