"The US ratings agency is poised to announce later on Monday that it is putting Germany, France, the Netherlands, Austria, Finland, and Luxembourg on “credit-watch negative”, meaning there is a one-in-two chance of a downgrade within 90 days."
Well, looks like a chain reaction is about to start... Finland is part of it. Well, when you see the household debt, your hair start to rise...and start to fall knowing that most of the debt is on variable rates tied to the Euribor. Just wondering is rates were to suddenly shoot up, what will be left to the banking sector and on the side to internal consumption (albeit declining with confidence flirting with historically low levels...)
I will summarize this week, the debt level , wage growth in the past few quarters to highlight the unsustainable situation.
In the meantime, keep consuming - you might be the last hope :-)