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Europe is currently the problem case of the global economy. But we cannot achieve a more sustainable situation until we tackle the roots of the euro crisis—that is, over-indebtedness and reckless economic policies. We need to safeguard the wellbeing of our citizens, and preserve our high-quality education, social and healthcare systems. This calls for tighter budget discipline throughout the eurozone, better governance and intensified co-ordination of spending policies among the nations that signed the fiscal union treaty in March.

My country, Finland, is a small nation whose economy is based on foreign trade and a functioning internal market within the…

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