More like “in the long ruin”.
Yeah, these are the people Liikanen and all the other crony welfare (fake) capitalists are pinning their hopes on, and ruining our futures with. From failed societies, Finland is to rise out of the ashes with their help…….
This is why they are allowing this to happen, mass immigration in one fell swoop. And then we’re stuck with 200 000 Iraqi (and other) muslims, more than the traditional Swedish (same culture) minority has been for centuries.
Liikanen: Asylum applicants will help finance the welfare state someday
Bank of Finland Governor Erkki Liikanen says Finland will benefit from the current influx of asylum seekers in the long term, as the new stock of workers will strengthen the country’s economic development and bolster the financial security of the welfare state. He advises Finnish authorities to remember to treat refugees according to the rule of law.
Finland is expecting 800 new asylum seekers a day to enter its borders in the coming weeks. One of the country’s leading financial advisors, Erkki Liikanen, says people must recognize the human distress and structural disintegration in countries of origin that lie behind the current refugee situation.
“It looks as if the borders drawn in the Middle East after the First World War are breaking down. The future existence of today’s nation-states of Syria, Iraq and Libya is up in the air. People in these regions are being subject to a huge wave of violence. It is clear that in a situation like this, people will flee and seek safety,” Bank of Finland Director Liikanen said in a television interview on Saturday.
He said the most important way the crisis will be overcome is to find solutions that support peace – especially in Syria – and provide immediate relief to people in the surrounding areas. In the short term, the refugee situation will be very difficult to control, he says, adding that this applies to every European country.
“I was in Croatia last week, and the people there assumed that no one was coming. One week later, there is suddenly enormous pressure for them to let in people at their borders.”
The not-too-distant future
Liikanen says that in the long run, refugees and asylum seekers entering Finland will have a positive effect. He says they will solve the problem of a rapidly-ageing demographic and eventually help finance the country’s welfare state. This long-term prognosis echoes similar sentiments expressed recently by Finnish pension company Ilmarinen’s director, Jaakko Kiander, and Nordea Bank’s chief economist in Finland, Aki Kangasharju.
“The fact that we will have more foreign workers will support Finland’s economic development in the future, but the transition stage will be difficult,” Liikanen added.
He also stated that Finland must be careful to remember that people seeking safety and shelter must be treated fairly and justly.
“The processes should function with respect for international and national law. It is very important that Finland act as a nation governed by the rule of law in this matter.”
Views on the economy
Asked to respond to Finland’s prevailing economic climate and the government’s austerity proposals, Liikanen said that everyone in Finland is between a rock and a hard place now, as the economy has endured several shocks.
He is confident that an agreement to revive the economy is attainable, if only the burden were distributed more evenly. Liikanen says the hardest pill for the labour organisations to swallow is the idea of mandatory statutory requirements. In reference to Friday’s labour demonstrations, he said he supports the people’s democratic right to demonstrate.
“Finland’s export trade has fallen and our investment forecast is very low. For this reason, we must build a foundation that will encourage growth,” he says, adding that costs must be kept in check if the export situation is to change.
Exports finance the rest of the economy, he commented, saying only profitable companies can invest. He says the problem right now is that there are no more growing firms in Finland.
But Liikanen’s main concern when it comes to the Finnish economy is increasing unemployment. Figures this year show the unemployment percentage continues to rise. He emphasized during his interview that the Bank of Finland is not responsible for creating policy; rather its job is to simply supply information.
A finance guru
Erkki Liikanen is a leading financial and political figure in Finland. First elected to the Finnish Parliament in 1972 when he was only 21 years old, Liikanen become the first Finnish ambassador to the European Union in 1990. Four years later, he became the first Finnish Member of the European Commission and later served as Commissioner of two EU administrative units.
Liikanen has served as Governor of the Bank of Finland since July 2004. As such, he also became a Member of the Governing Council of the European Central Bank and Governor of the International Monetary Fund for Finland. His term as the national bank’s director will end in three years.
Since 2008, he has been the Chair of the Finnish Red Cross. He recently made headlines when he announced he was donating one month of his salary to the Finnish chapter of the Red Cross to assist with their refugee operations.
