SAK for positive approach to EU’s fund negotiations

The Central Organisation of Finnish Trade Unions (SAK) on Tuesday said the purpose of the European Union recovery fund is good and should be supported.

It should be supported to provide funding for selected investment targets as opposed to general budgetary support for the EU member states, a SAK press release said.

The Finnish government must work to ensure that this remains the principle during the upcoming negotiations.

The release said, “The focus should be, e.g., on green growth and digital transition. Through the investments we can support the EU’s long-term goals, such as combating climate change, deploying new technologies and improving skills.

“The situation is worrying in Finland, as its economy is expected to recover from the crisis more slowly than that of other EU countries,” SAK observed.

According to SAK, European investment recession and a prolonged economic stagnation would be particularly problematic for Finland, as the EU is Finland’s main market and its exports rely heavily on investment goods. Therefore, Finland’s recovery from the coronavirus crisis and the possibility to save jobs are very closely linked to the EU’s recovery.

The European Commission has proposed a recovery fund worth €750 billion to kick-start the economy and to ensure that Europe will recover.

New resources of its own are being considered for the EU to repay the loans the European Commission would take.

SAK said, “When assessing the possible new revenues, it is essential to ensure that the system supports sustainable growth, job creation and the EU’s international competitiveness.

Finland should take a constructive approach to the EU’s recovery fund negotiations.”

“Only this way will we be able to influence what the recovery instrument will look like. We must also consider the possible consequences, if no agreement can be reached. Without a common solution, the EU will erode from within and that will also reduce our global influence. Good performance and cooperation within the EU and the euro area are essential for Finland,” said the leaders of trade unions in a joint statement signed by said the leaders of trade unions in a joint statement signed by Confederation of Finnish Industries (EK) Director-General Jyri Häkämies, , , Central Organisation of Finnish Trade Unions (SAK) President Jarkko Eloranta, Confederation of Unions for Professional and Managerial Staff in Finland (Akava) President Sture Fjäder, and Finnish Confederation of Professionals (STTK) President Antti Palola.