In some way, Finland used to be a lot like Italy – using devaluations to boost export competitiveness. But of course Finland is seen as one of the core countries, even though its economy is in tatters. Finland is also much smaller and has a much less diverse economy than Italy. Nonetheless, it is interesting to think more about Finland in the context of differences between Finland and Italy in e.g. labour market participation, education, innovation capacity and labor market relations.