A package to fix the European economy: thoughts from Finland

The document argues for a coordinated EU response to the financial crisis, combining fiscal discipline and structural reform with financial regulation and a strategic shift toward green growth. It advocates for defending the euro, implementing a financial transaction tax, increasing corporate tax transparency, and expanding the mandate of the European Central Bank to prevent state bankruptcies. Finally, it asserts that the EU should leverage innovation in energy efficiency and renewable energies to drive economic growth and address climate change.

• The author argues that the euro should be defended because it has provided stability, predictability, and low interest rates for the Eurozone and Finland, noting that borrowing costs in Finland are currently at their lowest since the country's independence.
• To address the crisis, the document suggests a combination of sustainable spending levels, structural reforms (such as pension reform and public sector productivity increases), and a just implementation of balancing programs where the wealthy bear a proportionate burden.
• The text advocates for reducing internal tax competition and eliminating tax havens by increasing transparency through the EU and OECD to ensure corporations pay a reasonable share of taxes.
• The author supports a proposed EU tax on financial transactions to restrain speculative trading and stabilize markets, estimating potential gains of approximately €60 billion, which exceeds the total 2012 Finnish state budget of around €52 billion.
• The document proposes expanding the mandate of the European Central Bank (ECB) to support Member States in avoiding bankruptcy, provided that states do not maintain long-term intentional deficits.
• The author argues that the EU should drive economic growth by specializing in tools that solve environmental problems, specifically through improved energy efficiency, renewable energies, sustainable transport, and efficient resource use.

APA

Niinistn, V. (2012). A package to fix the European economy: thoughts from Finland. Green European Journal. https://www.greeneuropeanjournal.eu/a-package-to-fix-the-european-economy-thoughts-from-finland/

Chicago

Niinistn, Ville. A package to fix the European economy: thoughts from Finland. Green European Journal, 2012. https://www.greeneuropeanjournal.eu/a-package-to-fix-the-european-economy-thoughts-from-finland/.

Wikipedia

{{cite press release |last1=Niinistn |first1=Ville |title=A package to fix the European economy: thoughts from Finland |publisher=Green European Journal |date=27 March 2012 |url=https://www.greeneuropeanjournal.eu/a-package-to-fix-the-european-economy-thoughts-from-finland/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{niinistn2012package, author = {Niinistn, Ville}, title = {{A package to fix the European economy: thoughts from Finland}}, publisher = {Green European Journal}, year = {2012}, month = mar, url = {https://www.greeneuropeanjournal.eu/a-package-to-fix-the-european-economy-thoughts-from-finland/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }