By
updated 10/14/2014 7:15:07 PM ET 2014-10-14T23:15:07

Apple has recently come under fire for "Bendgate" and “Hairgate." Now, the company is being blamed for more a more serious matter: Finland’s troubled economic standing.

On CNBC this morning, Finnish Prime Minister Alexander Stubb pointed  to Apple as a major reason for the decline of the country’s largest export industries – paper and IT/mobile, and in particular, Apple’s effect on the outlook for cell phone maker Nokia.  A former leader in the space, the company’s device and services business was officially acquired by Microsoft last spring. “Paradoxically, one could say that the iPhone killed Nokia and the iPad killed the paper industry, but we’ll make a comeback,” said Stubb.

Related: Sick of Apple? Check Out Carrot, a Wireless Vegetable That's Exactly What the Name Suggests.

It’s not often that you see a single company blamed for the economic struggles of an entire country. But Stubb, who was installed as prime minister at the end of June, has put Apple in the scapegoat position before. In July, he remarked  at a press conference in Stockholm, “Steve Jobs took our jobs, but this is beginning to change.”

Last week, financial rating service Standard and Poor's downgraded Finland's sovereign debt rating to AA+ from AAA, bringing Stubbs opinions of Apple’s impact on the Finnish economic state once again to the fore. Stubb told  Bloomberg he foresees it taking as long as four years for the country’s ranking to get bumped back to AAA.

Related: Icahn Urges Apple to Buy Back More Shares

Copyright © 2013 Entrepreneur.com, Inc.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.87%
$30K home equity loan FICO 5.22%
$75K home equity loan FICO 4.66%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.21%
13.21%
Cash Back Cards 17.69%
17.69%
Rewards Cards 16.96%
16.96%
Source: Bankrate.com