” We all need to change, the export-driven business model isn’t sustainable,” Jacobsen told RT in an interview at his Moscow office. [..]”
Indeed. Ratchet up services, domestic sector wages. Not everybody can have a current account surplus at the same time!
Posted in Economy, EU, Eurocrisis, Finland
Tagged currency crisis, emerging markets, Eurocrisis
Bye bye, European recovery and export-led growth.
“Emerging Markets’ Euro Nemesis by Daniel Gros – Project Syndicate” http://www.project-syndicate.org/commentary/how-the-euro-is-sinking-the-emerging-economies-by-daniel-gros
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