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Finnish plan to revive economy risks unravelling

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Finland's Prime Minister Juha Sipila
Finland's Prime Minister Juha Sipila
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A plan by Finland's centre-right government to revive the eurozone country's sluggish economy by extending working hours and reducing pay was at risk of unravelling Monday after key labour unions refused to endorse a deal. Dubbed the "social contract" by Finland's pro-austerity government, the plan would result in three extra working days per year without compensation for many workers, and employees would have to pay a greater portion of social insurance contributions. The plan is the brainchild of Prime Minister Juha Sipila, a former businessman who took office last May, to help the country recover from four years of recession and stagnation by restoring economic competitiveness through a deal between labour unions and employers.
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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