Finland makes good the worst assumptions about the crisis

Finland has met the worst assumptions about the crisis to fall into recession in the first quarter of this year, a fate that, for now, only shared among the countries of the euro with Slovenia. Analysts say the latest developments in the crisis of deficits in the euro area and the implementation of plans drastic spending cuts in major powers predict that the situation will evolve a structure W. This scenario means that, after taking his head between the end of last year and the beginning of 2010 the economy contracted again in the future to the fragility of the recovery and the early withdrawal of incentives.
Today, Finland, March has closed its second consecutive quarter down, made good this theory. As shown in the official data, the country's Gross Domestic Product, which the World Economic Forum is the sixth most competitive economy, has fallen 0.4% between January and March after losing 0.2% in last three months of 2009, according to the latest revision of this figure, which originally pointed to a standstill with a rate compared to previous period, 0%. The Finnish economy has a slightly larger size of Portugal in GDP volume and accounts for 1.8% of total Eurozone.
Nordic country's GDP began to decline in quarterly rates in the last quarter of 2008 following the international financial crisis and remained in negative territory until October last year, growing by 0.3%. However, the decline in European commerce and the weakness of international consumption, vital for the country because of its dependence on exports of pulp and paper industry and the multinational sales of Nokia, has returned to the field of recession.