Global financial crisis

Microsoft is shutting down mobile device R&D operations in Finland, costing the country of over 5.4 million a staggering 1,350 jobs. This was a death knell to Microsoft's attempt to become a major player on the mobile phone market; its attempt to do so through the purchase of Nokia proved to be a failure of historic proportions.

Denmark is traditionally lauded as one of Europe's strongest economies, yet reports from both the Ministry of Finance and independent experts suggest that the Danish economy is bound set to become one of Europe's slowest growers over the coming years.

Nearly 40 percent of the residents in central Helsinki believe that they can no longer afford live in the city, whereas nine out of ten respondents agreed that central Helsinki has become too expensive to consider for long-term living, a recent survey showed.

The number of births in Finland hit a 150-year low in 2015, recently released figures show. Researchers blame the economic crisis, high unemployment and a growing sense of uncertainty as primary reasons why people are choosing to have fewer children.

Finland's government has announced additional austerity measures worth roughly 400 million euros, despite already sluggish economic growth and unemployment steadily on the rise, although education will receive a boost.

Portugal, once billed as the poster child for European austerity policies, needs to carry out a series of deep spending cuts and tax hikes if it is to get a grip on its dangerously high levels of debt, the IMF has warned, raising more concerns about the long-term effects of austerity measures.

Brian Cowen, former Taoiseach and Minister for Finance is facing a grilling from members of the Irish Parliament over his knowledge of hidden loans affair that led to a string of resignations and the nationalization of the Anglo Irish Bank.

Over the last 13 years, Russia waived more than $100 billion worth of other countries’ debt; meanwhile, its own public debt continues to grow