Pro-austerity Finland falls into triple-dip recession

Finland, one of the eurozone’s most ardent defenders of austerity, entered in 2013 its third technical recession since the start of the financial crisis.

The Nordic country’s economy shrank by 0.1% in the first quarter of 2013 compared with the previous three months and by 2.1% versus a year earlier. Following revisions to earlier data, it emerged that Finland has been in recession for a year.

Finland: Ministry of Finance http://www.vm.fi/vm/en/01_main/index.jsp

ESO: Background information: Finland reports quarterly contraction http://www.europeansources.info/record/finland-reports-quarterly-contraction/

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