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The eurozone has also enacted some limited fiscal integration; for example, in peer review of each other's national budgets. The issue is political and in a state of flux in terms of what further provisions will be agreed for eurozone change. No eurozone member state has left, and there are no provisions to do so or to be expelled. [16]
Latvia is the fastest growing economy in both the eurozone and the European Union. Luxembourg is home to the highest GDP (nominal) per capita in both the European Union and eurozone. Malta is the smallest economy in the eurozone as well as the European Union, and is the fastest growing European economy in the Commonwealth of Nations.
As of 2023, 558,294 people, or 10.0%, live in Finland with a first language other than Finnish, Swedish or Sámi. [1] More than 150 foreign languages are spoken in Finland. [30] However, most of them have only few speakers. Historically, Finland has been a bilingual country where only Finnish or Swedish was spoken.
Despite growing production, the manufacturing industry accounts for a decreasing proportion of total employment in the Nordic countries. Among the Nordic countries, Finland is today the number one Nordic industrial country, as the manufacturing industry in Finland accounts for the greatest proportion of the country's jobs, around 16 per cent.
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
During the crisis, Finland looked to the European Union, which they were more committed and open to joining than Sweden and especially Norway, while Denmark had already joined the EU by the 1970s. Finland is, to date, the only Nordic country to become a Eurozone member state after fully adopting the euro as its official currency in 2002. [11] [81]
The European social model is a concept that emerged in the discussion of economic globalization and typically contrasts the degree of employment regulation and social protection in European countries to conditions in the United States.
The name Suomi (Finnish for 'Finland') has uncertain origins, but a common etymology with saame (the Sami) has been suggested. [22] [23] In the earliest historical sources, from the 12th and 13th centuries, the term Finland refers to the coastal region around Turku in the southwest of modern Finland; this region later became known as Finland Proper in distinction from the country name Finland.