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Mon 05 May 2009It may not be possible to deflate our way out of crisis
OPINION:The Finnish government adopted the same response as ours in the 1990s – it did not work, writes JOHN McMANUS
AMIDST LAST week’s barrage of frightening economic reports, statistics and papers, arguably the most frightening of all was a paper presented at the ESRI conference last Thursday on the labour market in recession. It was entitled The Great Depression of Finland 1990-1993: Causes and Consequences and it was delivered by Jaakko Kiander a director of the Labour Institute for Economic Research, in Helsinki.
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