Finland: tough choices to make after the Brexit

Finland Politics

BrexitAfter the UK vote in favor of the Brexit,  panic seems to emerge on the Finnish economic playing field: according to YLE, on the first day of trading on the Helsinki Stock Exchange since Thursday’s vote, shares sank about six percent after the opening bell, at  its lowest level in five years. Outokumpu,  Metsä Board, Wärtsilä, Cargotec and Konescranes, Sampo, Nordea and Nokia dropped still more. And the  Finnish Parliament announced it will reconvene in a special session on Friday to consider the repercussions of the British vote.

In reality, from an economic point of view, Finland has little to lose as demonstrated by Standard and Poors’Financial Services has published a Brexit sensitivity index for countries. Finland, compared to other EU countries, has very little exports to UK (1,6% of GNP), a very low financial risk, very low foreign direct investments in GNP, and very low migrations to and from…

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