As Winston Churchill has stated, “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” Today, I’ve chosen to be on the positive side, trying to be still a realist. I’d like to briefly discuss the trends in the world economic outlook and the current situation in Europe. There are quite a number of positive signs.
Thereafter I’d like to say a few words on the long-term fiscal policy challenges that the recent crisis has posed to most advanced countries. Finally, I’ll present the Bank of Finland’s forecast of the Finnish economy. The global outlook The world economy has been recovering from the economic crisis during the latter part of 2010 and early months of 2011.