The coming end of the Finnish welfare system

Author: Max Stucki

At the time of writing this, the negotiations to form the next Finnish government are in full swing. Currently, a red-green coalition, aided by either the liberal conservative National Coalition Party or the centrist-agrarian Center Party, seems a likely option. However, nothing is certain since the elections produced no clear winner. The three largest parties all gathered around 17% of the votes indicating a fractured electoral base.The negotiations might actually continue for some time to come.

The elections campaigns and debates were characterized by two things. First, there was much speculation regarding the popularity of the national conservative Finns Party, which changed its leadership in 2017 causing a split within the party. Second, the climate change was a major issue, which was extensively discussed and gained much visibility during the campaigning.

Both themes become understandable when considering the largely leftist-green discourse within the Finnish media. The rise of the Finns Party was feared, as its success could undermine the visions of the idealists inhabiting the larger cities, especially Helsinki and its surroundings. The climate change, on the other hand, was shamelessly utilized as a political tool to win votes of those struck by the climate anxiety.

It is telling, that the politicians were discussing with straight faces how Finland could work to stop the climate change. The notion that Finland with its puny population of 5,5 million could affect the climate in any meaningful way is demonstrably absurd, even insane. So, either the Finnish politicians have utterly lost their touch with the reality, or become mad, or are cynically lying. Given the track record of politicians in general, the last option is the likeliest one, which just proves the fact that in order to be a successful politician, one needs an utter and condescending contempt towards the voters. Otherwise the talk about the climate change remains incomprehensible. Continue reading

Greece Warned About Widening Spreads and Risk of Missing Targets

The latest round of tax cuts and handouts announced by the Greek government mean that Europe’s most indebted state will probably miss an agreed target for a budget surplus excluding interest payments, the head of the euro-area’s crisis fund said. The shortfall will deteriorate further next year, Klaus Regling warned after a meeting of the bloc’s finance ministers in Brussels. Source: Bloomberg