Halonen: poverty is a problem in Finland
President Tarja Halonen opened this year’s Common Responsibility Campaign. In her speech for the annual fundraising campaign, Halonen noted that despite today’s high living standards, poverty has again become a problem in the country.
According to Halonen, longer breadlines were evidence of poverty.
The President said that large national debts, the eurozone crisis as well as general uncertainty over the future had overshadowed the economic troubles of individuals.
Halonen noted that many households were more in debt than ever, and that many were in risk of falling into a vicious circle of debt. As such, a system of social credit was needed in Finland.
In her speech, President Halonen especially mentioned the Guarantee Foundation, which is using funds from this year’s Common Responsibility Campaign to start a micro-loan programme for people in economic difficulties.
With low interest rates, the micro-loans are meant to help those who are unable to get reasonable credit due to their low income or credit details, and therefore are at risk of getting into excessive debt.
In addition to combating excessive indebtedness, the funds raised through the Common Responsibility Campaign are also used to support micro-loan operations in Uganda.
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