Sun, 12 Jan, 2014 04:11:39 AM FTimes-STT Report, January 12  File Picture of the Chairman of the Board of Nordea Björn Wahlroos. Photo – Lehtikuva. Renowned banker Björn Wahlroos on Saturday pointed out that the cost of labour in the country is very high and the economic outlook looked bleak.
At the breakfast programme of the YLE Television, Wahloors said it was essential that the cost of labour in the country be reduced for attracting investment.
He compared the success story of Nokia with a lottery win and said such wins did not come every day.
Wahloors said the labour market must be flexible because Euro has devalued almost beyond reach.
He also said salaries had risen the most in Finland compared to the other countries in the Eurozone, adding that Greece was ahead of Finland in that regard but now Finland have claimed the top spot.
This had made Finnish labour very expensive for the other labour importing countries of the world. The banker recommended shortening education periods and discouraging long term enjoyment of unemployment benefits.
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