The outbreak of the government debt crisis led to efforts to strengthen European institutions so as to prevent crises from emerging and contribute to minimising the damages when they do occur. At the end of 2010, euro area governments agreed on the establishment in 2013 of a permanent crisis management framework, the European Stability Mechanism (ESM).
Finland’s economic outlook The Finnish economy recovered strongly in 2010, with growth bolstered by both domestic demand and exports [Slide 6]. The substantial increase in output over the course of 2010 will also considerably boost the average growth figures for 2011.