One of Germany’s staunchest allies in backing euro-zone austerity is about to feel some of the pain the policy brings with it.
Finnish Prime Minister Juha Sipila will this month battle unions to reduce the cost of labor. Without the measure, he says Finland will need a 1.5 billion euro ($1.6 billion) austerity package to meet budget goals.
“Reducing labor costs is the first big challenge on the path of Finnish economic revival,” Aktia chief economist Anssi Rantala said in an interview.…
Raine Tiessalo
