Overall, as regards the economic policy action taken during the acute phase of the corona virus crisis, it is important that the economic policy measures are implemented swiftly and that they are targeted precisely at those affected by the crisis. Central to this are not only the decisions of the central bank but also, naturally, those taken by governments.
Fiscal policy will benefit greatly from European coordination. Exports or the availability of foreign input cannot be stimulated via domestic measures, but they CAN be stimulated by introducing joint European measures. A European fiscal policy stimulus programme would certainly benefit a small open economy like Finland.