Finland in double-dip recession

news.bbc.co.uk...

During the January to March quarter, its economy contracted by a seasonally-adjusted 0.4%, after a decline of 0.2% in October to December of last year.

It is the first eurozone country to re-enter recession after emerging from it, in what is known as a double-dip.

Finland, whose main exports include paper and Nokia mobile phones, was hit hard by the downturn in global trade.

However, official figures, also released on Thursday, showed that its exports have since recovered.

First off let me say we are all hoping for a recovery in Finland for any of our Finnish friends.

I wonder if this will be a new trend, countries start reversing their economic growth. What would be our plan in case of a double-dip recession? We could not do another bailout obviously which would leave us helpless to any of the effects an absolute meltdown would create.

I found this though, I don't know if it's very reassuring.




money.cnn.com...

Europe's debt crisis. Companies still not hiring. The Gulf oil spill. These are uncertain times to say the least. But while you might think economists would be running for the hills and looking ahead to a so-called "double dip recession," that's not necessarily the case.

In fact, some economists think a double dip is even less likely than it was earlier this year.