As I just read this Bloomberg story on Finland and I kept telling myself as I read that such problems could be ours some day too.
The Finns were complacent but outsiders as usual are often slow to realize this.
PM Stubb had gone as far as blaming Apple for its troubles. As we all know Nokia failed to forestall the Innovator's Dilemma lesson and so Apple ate its lunch, more specifically Samsung did but Apple started the juggernaut rolling right?
The writing was on the wall for sometime and what's needed was simply waiting for the right moment to be unlucky. Then comes S&P with a downgrade from AAA to AA+
This had happened to America but she is not worse off at all. For small countries like us, it will be quite a different matter.
Now I am waiting to see if our leaders is going to use Finland as a cautionary tale for us. In a way we are lucky to be in an economically booming region. It is true that growth hides a lot of faults but this is also the time to fix things properly without going into bad fire fighting mode.
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