Travel Reference
In-Depth Information
Modern Finland
Following the collapse of the Soviet Union, a load was lifted from Finland, but the early
1990s were not the easiest of times. The bubble of the 1980s had burst, the Soviet Union
disappeared with debts unpaid, the markka was devalued, and unemployment jumped from
3% to 20%.
However, Finland could finally integrate itself fully with Europe. Since joining the EU
in January 1995, Finland has largely prospered, and was a founder member of the euro in
2002.
Balancing power between the president and the parliament had long been on the agenda
since Kekkonen's monarch-like presidency, and in 1999 a new constitution was approved
limiting certain presidential powers. The first to take the wheel under the new order was
Tarja Halonen of the Social Democratic Party, elected in 2000. Referred to affectionately
as Muumimamma (Moominmamma), she was well loved by many Finns, and was re-elec-
ted for a second (and, by law, final) six-year term in 2006 before being succeeded in 2012
by the National Coalition Party's Sauli Niinistö.
In the new millennium, Finland has boomed on the back of the technology sector -
which, despite the plunge of Nokia, continues to be strong - the traditionally important
forestry industry, design and manufacturing, and, increasingly, tourism. Despite suffering
economically along with most of the rest of the world in recent years, it's nevertheless a
major success story of the new Europe with a strong economy, robust social values, and
super-low crime and corruption. Finland consistently ranks highly in quality-of-life indices
and has in recent years outperformed its traditionally superior neighbour Sweden in many
areas.
Russia is, as ever, still high on the agenda. Finland's geographical proximity and close
historical relationship with its neighbour gave it a head start in dealing with post-Soviet
Moscow, and the trade relationship remains close between the two countries. Many Fin-
nish companies contract much of their business to Russia, where wages and overheads are
lower, while Russian labour and tourism both make important contributions to the Finnish
economy. Nevertheless, many Finns are still suspicious of Russia and the Putin brand of
nationalism. The Winter War has not been forgotten: national service and border patrols
are taken seriously.
Though Finland has experienced far less immigration than most European countries, im-
migration has increased in recent years and is an issue that has raised headlines.
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