Oh Finland, look, Spain is already shining

If history were written by politicians, the result would be a mixture of truth and half-truths.

This can also be said about the seen politicking that takes place when comparing the state of the Spanish economy to Finland. You already sang J. Karjalainen too ysärillä: Espanja, maximum quality, minimum prices [huippulaatu ja halvat hinnat].

Now there is a strong contender for prime minister Antti Lindtman (sd) has not only had the opportunity to enjoy the warm spring, but also to nourish himself with the thoughts of his comrades-in-arms. Pedro Sánchezin at the hosted event in Barcelona.

CPR or brake?

Lindtman’s conclusion on (HS 19.4.) that Finland could take a model from Spain. The country has turned its high debt ratio down, unlike Finland. Spain’s socialist government has, among other things, raised minimum wages and stepped on the gas in public investments. These have been claimed to be linked to economic growth.

With the example of Spain, Lindtman apparently communicates some kind of readiness for an economic policy more stimulating than the current government, even though one hand has been on the debt brake.

Finance minister Riikka Purra (ps) stuck with his teeth to Lindtman’s words by reminding the message service in Xthat Spain got the former Hello Marine (sd) 80 billion euros of corona stimulus money cleared by the government.

According to Purra, one cannot understand Lindtman’s line when he simultaneously praises Spain, which is being revived with other people’s money, and on the other hand threatens with savings.

Spain had a hard time

As politicians, both Lindtman and Purra know how to select their favorite angles from the recent history of the Spanish economy.

The discussion about the slow growth of the Spanish economy is out of proportion if you forget about the wormhole the country went through in the years of the financial and euro crisis. Of course, growth is not only about the revival of the socialist government or the jackpot from the EU.

Between 2008 and 2013, Spain’s GDP fluctuated between zero and minus four percent, the housing bubble burst, banks ran into trouble, and the official unemployment rate rose above 25 percent at its worst. Spain had not experienced such a period before during its democracy.

Spain’s left-wing and right-wing governments had to take even sharper scissors to cut public spending. Reforms were implemented in the labor market, which made it possible to reduce wage flexibility.

Pakko is a tough consultant

In Spain, the goal was to improve the price competitiveness of exports. Internal devaluation took place in a situation similar to Finland’s in the early 1990s.

Both countries came up from deep when they had to. Looking back, there was something lasting and room for maneuver left over from the coup, from which Spain’s socialist government is now drawing.

Lindtman already had time to return to Finland to state that the game reserve has been lost, but yes, the light of the morning will still win.