[adventured]

Finland vs Sweden is the ideal example:

https://i.imgur.com/dooDKYT.jpg

If Finland had controlled their own currency, they could have made adjustments based on their unique circumstances. Instead they were left to suffer through a miserable near decade long rolling recession.

[tormeh]

It's not so much that adjustments are made. It's more that when exports fall, the currency falls with it automatically, which helps for exports. In short, a floating currency helps regulate the import/export balance. Not having a floating currency means you need wage renegotiation and a lot of manual processes to achieve the same.

Note that in the time period there's also Nokia mobile dying, which impacts the numbers a bit.