Finland's millionaire premier freezes pay in bid to save economy

Helsinki

THE Nordic region's only euro member is still struggling with austerity.

After being stripped of its top AAA credit grade at all three major ratings companies, the government is asking Finns to tighten their belts to keep up with the Germans and the Swedes, who are more productive exporters. Failure to do so will jeopardise Finland's path away from economic limbo and growing indebtedness, the government warns.

Prime Minister Juha Sipila, a self-made millionaire who won elections last year on pledges to reinvigorate Finland's ailing post-Nokia economy, says exports are the key to economic success. But that requires Finns to produce more without getting more pay if the nation is to close a c…