The European Union needs to step up efforts to fight tax evasion and coordinate policies to ensure equal opportunities to companies in the 27 member states, Finland’s Prime Minister Jyrki Katainen said.
Finland’s Finance Minister Jutta Urpilainen said she will continue in her job after switching three ministerial posts in her Social Democrat party’s first reshuffle since joining the government in 2011.
Finland wants bank shareholders and bondholders to bear the brunt of future rescues, bringing in taxpayer money to clean up troubled financial businesses only as a last resort, Finnish Prime Minister Jyrki Katainen said.
Finland may scrap its central government deficit target, backing away from excessive austerity in a move Prime Minister Jyrki Katainen signaled will support the economy and help the government halt debt growth.
Finland has emerged as the safest credit inside the euro area. That assessment does little to ease Prime Minister Jyrki Katainen’s concerns that his economy run by aging Finns risks losing competitiveness.