Leading German economist Hans Werner Sinn has predicted that Finland will leave the eurozone in order to be able to devaluate its currency and become more competitive.
Finland’s economy has been hit by the closure of Nokia, a reduced demand for paper due to digitalization and EU sanctions against Russia, Sinn said.
Its industrial output is 20% less than in 2007.
In the nineties Finland devalued its currency, the Markka, by 30% in relation to the D Mark allowing its economy to recover from the collapse of markets in the Soviet Union.
Financial markets are already talking about a Fixit or Finnish exit.