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#英文书籍阅读团#第6周打卡(2016.2.29)

TS
TS   TS 2016-02-29 23:59 阅读(2335)

Finland: The sick man of Europe?


The economy situation is really bad in Finland at this moment. I found one news published in BBC. 

dismal (阴沉的,凄凉的) description

the figure below showed the economy’s performance in 2015

consecutive (连续的,连贯的) year of declining economic activity

lacklustre (呆滞的) growth

remains pretty bleak (萧瑟的,严寒的)



flippant (轻率的,没礼貌的) answer


Who is to blame?

one was forestry - in particular, paper industry. The country’s extensive forests are not just pretty; they are a very valuable commercial resource.

the other reason - Nokia, which incidentally began life as a paper producer in the 19th Century.

casualty (事故,伤亡者)

overshadowed (遮荫,使黯然失色)


According to the ETLA (Independent economic research agency in Helsinki) , Its direct contribution accounts for 1/3 of the GDP decline and is shedding (脱落) of employment for 1/5 of the reduction of total employment between 2008 and 2014. 


Other things...


pillar (支柱,核心)
timber (木材)industry

escalator (自动扶梯)


Another external problem, supplied by Russia. Not only this time, but also in Soviet Union in the early 1990s.


Russia’s trade retaliation against the EU has hit Finland, as it banned some EU imports.  Valio, was a serious blow. 


ageing population: means a lower proportion of the population is working, generating wealth and paying income taxes. 


competitiveness: unit labour costs, rose by 25% between 2007 and 2014


Currency union impact

internal devaluation, which means in essence (本质) taking steps to reduce costs for business. But is not available because it uses the euro.


idiosyncratic (特质的,与众不同的) or asymmetric (不对称的) shocks: it was widely recognised that one potential risk of a currency union was the loss of a flexible currency to respond to economic developments that affect different members differently


nuanced (细微差别的) report

an economist at Helsinki University, are more stark: "The main blame on our economic woes (悲哀) should be placed where it belongs, namely on the euro membership."


he governor of the Bank of Finland, Erkki Liikanen said: "If we had a little weaker Finnish markka , I wouldn't believe that Nokia would beat iPhones or that young people would suddenly start to read printed books and newspapers, thus creating demand for the products of Finnish paper mills. Our challenges are based on structural facts. An adjustment of our currency would not make up for those challenges."
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