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Niinistö predicts: ECB will print more money

Finnish President Sauli Niinistö says in all likelihood the current financial crisis will be solved by the European Central Bank printing more money. He does not believe Finland would leave the common euro currency. Niinistö’s comments came during a visit to the western coastal town of Kokkola.

Presidenti Sauli Niinistö.
Presidentti Sauli Niinistö. Image: Yle

“I see this European problem perhaps as a consequence of western over-indebtedness and, at the end of the day, I believe the way out will be for the European Central Bank to print more money at some stage as was done in the United States,” Niinistö said.

Yle asked the President for his reaction to this week’s Yle poll which indicates that a majority of Finns are increasingly critical of the eurozone remaining in its present form.

“It is quite understandable that the situation causes concern. But I don’t believe that Finns just want to leave the euro, neither would I recommend such a move,” responded the President.

Commenting on the President’s forecast, the former Managing Director of the Research Institute of the Finnish Economy (ETLA), Sixten Korkman says printing money is only part of the solution and in itself not a magic trick.

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