Heikki Urmas Sees Some Problems with Euro

To answer the multitude of questions that the coming of euro implies, Radio Mikaeli chose to interview a business expert in Finland, the Dean of the Helsinki School of Economics and Business Administration BBA Program in Mikkeli, Heikki Urmas.

Dean Urmas is not all that optimistic about the implementation of the euro to the market in the beginning of 1999. He sees especially the small and medium sized businesses suffering in the transition compared to the bigger companies.

A recent survey carried out by the European Union confirms this tendency. Small European companies seem utterly unprepared with only 12% of them having begun to think about the euro. On a larger scale, Dean Urmas remains sceptical about the strength of the single market as it has been drawn out. In particular, the Dean is concerned about the timing of the single currency.

The Dean of the BBA program in Finland's leading business school also warns about the new challenges faced by the world economy as another strong currency rises alongside the dollar.

While seeing flaws in the introduction of the single European currency, Heikki Urmas, calling himself a realist, tones down the overly optimistic rhetoric surrounding the euro: "Let's hope that those people (sceptics) are wrong, but we have to be careful talking about prosperous future as far as euro is concerned".

One Currency for Europe

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© Isto Felin & Stéphan Martin / Nettiradio Mikaeli 1998