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Summary of Government Interventions in Financial Markets - Finland

Summary of Government Interventions in Financial Markets - Finland
26 May 2009
Mayer Brown Article
Finland has weathered the current financial crisis well to date, with Finnish banks remaining in good standing and able to manage the crisis so far without recourse to government support. As an IMF report recently concluded, “exposure to US subprime assets, US GSEs, and Lehman is minimal… banks have not experienced deposit withdrawals and most have actually gained deposits”. Despite this, Finland’s economy has suffered from the global financial crisis. Estimations are that GDP will decline by 0.5 per cent in 2009, to recover by 0.7 per cent in 2010. Recession was declared on 27 February 2009 by the Finnish National Statistics Office.
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