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Finnish, EU Economic Woes, Stagnation Foretold Years Ago by SPACEPOL Corporation Experts

QUEBEC, 26th May, SPNW - According to the newly-released Journal of the Governor of The SPACEPOL Corporation Finnish and EU official optimism about a quick rebound from economic stagnation and decline was avidly rebuffed by SPACEPOL Corporation experts already in 2009, when few knew how long the crisis would continue. The pages of the Journal recount the naïvité and quick-fix attitudes that were addressed back then.

"Already in early 2009 we warned that severe economic and societal stagnation which had plagued Finland, Sweden and Norway from 2006 onward made it highly unlikely that any of these countries, Finland included, would be able to pull out of their steep decline anytime soon" recalls SPACEPOL Corporation President and CEO Gunnar K. A. Njalsson.

He recounts the various attempts by SPACEPOL economic analysts to explain for Finnish economic and political leaders the seriousness of the situation and that the country needed to re-examine its overdependence on "one-hit-wonders" like Nokia. According to this and other accounts described in the first volume of the "Journal of the Governor of The SPACEPOL Corporation" warnings went unheeded by economic and political leaders who are, according to Njalsson "some of the worst Finland has ever had" with respect to wisdom and maturity. Finnish, Norwegian and other Nordic decision-makers tuned out all critical or concerned feedback and insisted that a normal and short-lived recession was at hand. As the Journal recounts and as we now know, such was not to be the case.

Njalsson also recalls his warning to both Finnish and Norwegian representatives of the business world. "Everything we know from our analysis of the Finnish and other Nordic economies tells us that they were ill-prepared for the competition for global talent and know-how. In each of these countries and especially in Finland, you had and still have a situation where the institutions and people that make up the market want to be international and still be protectionist at the same time" says Njalsson. Other SPACEPOL analysts have criticized Finland, Norway, Sweden and Denmark for going international only in the sense of expanding their own national activities and influence to foreign markets. According to them, bringing new ideas, new blood and creating an open and vibrant innovation culture in these countries has merely been an afterthought at best.

But according the "Journal of the Governor of The SPACEPOL Corporation" which became available in Europe and North America in 2012, these are not the most serious problems noted by economic analysts.

A culture of avoiding new ideas and risks, inability to effectively recruit the best talent to important societal positions, increasing societal stagnation and a growing culture of apathy have been the core of the economic problems now facing the region.

Sources | SPNW, CBC

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Latest Update:
2014-04-01