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Finland

Country in northern Europe

Top 10 Finland related articles

Republic of Finland

Anthem: 
Maamme  (Finnish)
Vårt land  (Swedish)
(English: "Our Land")
Location of Finland (dark green)

– in Europe (green & dark grey)
– in the European Union (green)  –  [Legend]

Capital
and largest city
Helsinki
60°10′N 24°56′E / 60.167°N 24.933°E / 60.167; 24.933
Official languagesFinnishSwedish
Recognised national languagesViittomakieliSámiTeckenspråkKarelianFinnish Kalo language
Ethnic groups
(2017)[1][2]
Religion
(2019)[3]
Demonym(s)
GovernmentUnitary parliamentary republic[4]
• President
Sauli Niinistö
Sanna Marin
LegislatureEduskunta/Riksdagen
Independence 
from Russia
• Autonomy
29 March 1809
• Declared
6 December 1917
• Civil War
Jan–May 1918
17 July 1919
• Joined the EU
1 January 1995
Area
• Total
338,455 km2 (130,678 sq mi) (65th)
• Water (%)
9.71 (as of 2015)[5]
Population
• December 2020 estimate
5,536,146[6] (116th)
• Density
16/km2 (41.4/sq mi) (213th)
GDP (PPP)2020 estimate
• Total
$257 billion[7] (60th)
• Per capita
$49,334[7] (19th)
GDP (nominal)2020 estimate
• Total
$277 billion[7] (43rd)
• Per capita
$48,461[7] (14th)
Gini (2019)  26.2[8]
low · 6th
HDI (2019)  0.938[9]
very high · 11th
CurrencyEuro () (EUR)
Time zoneUTC+2 (EET)
• Summer (DST)
UTC+3 (EEST)
Date formatd.m.yyyy[10]
Driving sideright
Calling code+358
ISO 3166 codeFI
Internet TLD.fia
  1. The .eu domain is also used, as it is shared with other European Union member states.

Finland (Finnish: Suomi [ˈsuo̯mi] ( listen); Swedish: Finland [ˈfɪ̌nland] ( listen), Finland Swedish: [ˈfinlɑnd]), officially the Republic of Finland (Finnish: Suomen tasavalta, Swedish: Republiken Finland ( listen to all)),[note 1] is a Nordic country located in Northern Europe. It shares land borders with Sweden to the west, Russia to the east, Norway to the north, and is defined by the Gulf of Bothnia to the west, and the Gulf of Finland of the Baltic Sea across Estonia to the south. Finland covers an area of 338,455 square kilometres (130,678 sq mi), with a population of 5.5 million. Helsinki is the country's capital and largest city. Finnish, the native language of the Finns, is among the only few Finnic languages in the world. The climate varies relative to latitude, from the southern humid continental climate to the northern boreal climate. Finland is primarily a boreal forest biome, with more than 180,000 recorded lakes.[11]

Finland was inhabited around 9000 BC after the Last Glacial Period.[12] The Stone Age introduced several different ceramic styles and cultures. The Bronze Age and Iron Age were characterised by extensive contacts with other cultures in Fennoscandia and the Baltic region.[13] From the late 13th century, Finland gradually became an integral part of Sweden as a consequence of the Northern Crusades. In 1809, as a result of the Finnish War, Finland was annexed by Russia as the autonomous Grand Duchy of Finland, during which Finnish art flourished and the idea of independence began to take hold. In 1906, Finland became the first European state to grant universal suffrage, and the first in the world to give all adult citizens the right to run for public office.[14][15] Nicholas II, the last Tsar of Russia, tried to russify Finland and terminate its political autonomy, but after the 1917 Russian Revolution, Finland declared independence from Russia. In 1918, the fledgling state was divided by the Finnish Civil War. During World War II, Finland fought the Soviet Union in the Winter War and the Continuation War, and Nazi Germany in the Lapland War. After the wars, Finland lost parts of its territory, but maintained its independence.

Finland largely remained an agrarian country until the 1950s. After World War II, the country rapidly industrialised and developed an advanced economy, while building an extensive welfare state based on the Nordic model, resulting in widespread prosperity and a high per capita income.[16] Finland joined the United Nations in 1955 and adopted an official policy of neutrality. Finland joined the OECD in 1969, the NATO Partnership for Peace in 1994,[17] the European Union in 1995, the Euro-Atlantic Partnership Council in 1997,[17] and the Eurozone at its inception in 1999. Finland is a top performer in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life and human development.[18][19][20][21] In 2015, Finland was ranked first in the World Human Capital[22] and the Press Freedom Index and as the most stable country in the world during 2011–2016 in the Fragile States Index,[23] and second in the Global Gender Gap Report.[24] It also ranked first on the World Happiness Report report for 2018, 2019, 2020 and 2021.[25][26]

Finland Intro articles: 48

Etymology

Finland

Satellite images of Finland in summer and winter
Finland on a medieval map, which is part of the Carta marina (1539)

The earliest written appearance of the name Finland is thought to be on three runestones. Two were found in the Swedish province of Uppland and have the inscription finlonti (U 582). The third was found in Gotland. It has the inscription finlandi (G 319) and dates back to the 13th century.[27] The name can be assumed to be related to the tribe name Finns, which is mentioned at first known time AD 98 (disputed meaning).

Suomi

The name Suomi (Finnish for 'Finland') has uncertain origins, but a common etymology with saame (Sami, a Finno-Ugric people in Lapland) and Häme (a province in the inland) has been suggested (Proto-Finnic *hämä from older *šämä, possibly loaned into Proto-Saami as *sāmē), whose source could be the Proto-Baltic word *źemē, meaning '(low) land'.[28] According to the hypothesis, *sāmē – or *šämä directly – was loaned back into Baltic as *sāma- (compare Latvian sāms 'Finn, Öselian'), from which Northern Finnic reborrowed it (perhaps via a Germanic intermediate *sōma-) as *sōma- > *sōme- 'Finland'.[29] In addition to the close relatives of Finnish (the Finnic languages), this name is also used in the Baltic languages Latvian (soms, Somija) and Lithuanian (suomis, Suomija), although these are evidently later borrowings. An alternative hypothesis by Petri Kallio suggests the Proto-Indo-European word *(dʰ)ǵʰm-on- 'human' (cf. Gothic guma, Latin homo), being borrowed into Uralic as *ćoma.[29]

Earlier theories suggested derivation from suomaa (fen land) or suoniemi (fen cape), but these are now considered outdated.

It has been suggested that the Finnish word Suomi is first attested the Royal Frankish Annals annal for 811, which mentions a person called Suomi among the Danish delegation at a peace treaty with the Franks.[30] If so, it is also the earliest evidence for the change from the proto-Finnic monophthong /oː/ to the Finnish diphthong /uo/.[31][32] However, some historical linguists view this interpretation of the name as unlikely, supposing another etymology or that the spelling originated as a scribal error (in which case the sound-change /oː/ > /uo/ could have happened much later).[33]

Concept

In the earliest historical sources, from the 12th and 13th centuries, the term Finland refers to the coastal region around Turku from Perniö to Uusikaupunki. This region later became known as Finland Proper in distinction from the country name Finland. Finland became a common name for the whole country in a centuries-long process that started when the Catholic Church established a missionary diocese in Nousiainen in the northern part of the province of Suomi possibly sometime in the 12th century.[34]

The devastation of Finland during the Great Northern War (1714–1721) and during the Russo-Swedish War (1741–1743) caused Sweden to begin carrying out major efforts to defend its eastern half from Russia. These 18th-century experiences created a sense of a shared destiny that when put in conjunction with the unique Finnish language, led to the adoption of an expanded concept of Finland.[35]

Finland Etymology articles: 26

History

Prehistory

Reconstruction of Stone Age dwelling from Kierikki, Oulu

If the archeological finds from Wolf Cave are the result of Neanderthals' activities, the first people inhabited Finland approximately 120,000–130,000 years ago.[36] The area that is now Finland was settled in, at the latest, around 8,500 BC during the Stone Age towards the end of the last glacial period. The artifacts the first settlers left behind present characteristics that are shared with those found in Estonia, Russia, and Norway.[37] The earliest people were hunter-gatherers, using stone tools.[38]

The first pottery appeared in 5200 BC, when the Comb Ceramic culture was introduced.[39] The arrival of the Corded Ware culture in Southern coastal Finland between 3000 and 2500 BC may have coincided with the start of agriculture.[40] Even with the introduction of agriculture, hunting and fishing continued to be important parts of the subsistence economy.

In the Bronze Age permanent all-year-round cultivation and animal husbandry spread, but the cold climate phase slowed the change.[41] Cultures in Finland shared common features in pottery and also axes had similarities but local features existed. Seima-Turbino-phenomenon brought first bronze artifacts to the region and possibly also the Finno-Ugric-Languages.[41][42] Commercial contacts that had so far mostly been to Estonia started to extend to Scandinavia. Domestic manufacture of bronze artifacts started 1300 BC with Maaninka-type bronze axes. Bronze was imported from Volga region and from Southern Scandinavia.[43]

Northern Europe in 814 AD

In the Iron Age population grew especially in Häme and Savo regions. Finland proper was the most densely populated area. Cultural contacts to the Baltics and Scandinavia became more frequent. Commercial contacts in the Baltic Sea region grew and extended during the 8th and 9th centuries.

Main exports from Finland were furs, slaves, castoreum, and falcons to European courts. Imports included silk and other fabrics, jewelry, Ulfberht swords, and, in lesser extent, glass. Production of iron started approximately in 500 BC.[44]

At the end of the 9th century, indigenous artifact culture, especially women's jewelry and weapons, had more common local features than ever before. This has been interpreted to be expressing common Finnish identity which was born from an image of common origin.[45]

Late Iron Age swords found in Finland

An early form of Finnic languages spread to the Baltic Sea region approximately 1900 BC with the Seima-Turbino-phenomenon. Common Finnic language was spoken around Gulf of Finland 2000 years ago. The dialects from which the modern-day Finnish language was developed came into existence during the Iron Age.[46] Although distantly related, the Sami retained the hunter-gatherer lifestyle longer than the Finns. The Sami cultural identity and the Sami language have survived in Lapland, the northernmost province, but the Sami have been displaced or assimilated elsewhere.

The 12th and 13th centuries were a violent time in the northern Baltic Sea. The Livonian Crusade was ongoing and the Finnish tribes such as the Tavastians and Karelians were in frequent conflicts with Novgorod and with each other. Also, during the 12th and 13th centuries several crusades from the Catholic realms of the Baltic Sea area were made against the Finnish tribes. According to historical sources, Danes waged at least three crusades to Finland, in 1187 or slightly earlier,[47] in 1191 and in 1202,[48] and Swedes, possibly the so-called second crusade to Finland, in 1249 against Tavastians and the third crusade to Finland in 1293 against the Karelians. The so-called first crusade to Finland, possibly in 1155, is most likely an unreal event. Also, it is possible that Germans made violent conversion of Finnish pagans in the 13th century.[49] According to a papal letter from 1241, the king of Norway was also fighting against "nearby pagans" at that time.[50]

Swedish era

The Swedish Empire following the Treaty of Roskilde of 1658.
Dark green: Sweden proper, as represented in the Riksdag of the Estates. Other greens: Swedish dominions and possessions

As a result of the crusades and the colonisation of some Finnish coastal areas with Christian Swedish population during the Middle Ages,[51] including the old capital Turku, Finland gradually became part of the kingdom of Sweden and the sphere of influence of the Catholic Church. Due to the Swedish conquest, the Finnish upper class lost its position and lands to the new Swedish and German nobility and to the Catholic Church.[52] In Sweden even in the 17th and 18th centuries, it was clear that Finland was a conquered country and its inhabitants could be treated arbitrarily. Swedish kings visited Finland rarely and in Swedish contemporary texts Finns were portrayed to be primitive and their language inferior.[53]

Swedish became the dominant language of the nobility, administration, and education; Finnish was chiefly a language for the peasantry, clergy, and local courts in predominantly Finnish-speaking areas. During the Protestant Reformation, the Finns gradually converted to Lutheranism.[54]

In the 16th century, Mikael Agricola published the first written works in Finnish, and Finland's current capital city, Helsinki, was founded by Gustav I of Sweden.[55] The first university in Finland, the Royal Academy of Turku, was established in 1640. The Finns reaped a reputation in the Thirty Years' War (1618–1648) as a well-trained cavalrymen called "Hakkapeliitta", that division excelled in sudden and savage attacks, raiding and reconnaissance, which King Gustavus Adolphus took advantage of in his significant battles, like in the Battle of Breitenfeld (1631) and the Battle of Rain (1632).[56][57] Finland suffered a severe famine in 1696–1697, during which about one third of the Finnish population died,[58] and a devastating plague a few years later.

Now lying within Helsinki, Suomenlinna is a UNESCO World Heritage Site consisting of an inhabited 18th-century sea fortress built on six islands. It is one of Finland's most popular tourist attractions.

In the 18th century, wars between Sweden and Russia twice led to the occupation of Finland by Russian forces, times known to the Finns as the Greater Wrath (1714–1721) and the Lesser Wrath (1742–1743).[58] It is estimated that almost an entire generation of young men was lost during the Great Wrath, due mainly to the destruction of homes and farms, and to the burning of Helsinki.[59] By this time Finland was the predominant term for the whole area from the Gulf of Bothnia to the Russian border.

Two Russo-Swedish wars in twenty-five years served as reminders to the Finnish people of the precarious position between Sweden and Russia. An increasingly vocal elite in Finland soon determined that Finnish ties with Sweden were becoming too costly, and following Russo-Swedish War (1788–1790), the Finnish elite's desire to break with Sweden only heightened.[60]

Even before the war there were conspiring politicians, among them Col G. M. Sprengtporten, who had supported Gustav III's coup in 1772. Sprengporten fell out with the king and resigned his commission in 1777. In the following decade he tried to secure Russian support for an autonomous Finland, and later became an adviser to Catherine II.[60] In the spirit of the notion of Adolf Ivar Arwidsson (1791–1858), "we are not Swedes, we do not want to become Russians, let us therefore be Finns", the Finnish national identity started to become established.[61]

Notwithstanding the efforts of Finland's elite and nobility to break ties with Sweden, there was no genuine independence movement in Finland until the early 20th century. As a matter of fact, at this time the Finnish peasantry was outraged by the actions of their elite and almost exclusively supported Gustav's actions against the conspirators. (The High Court of Turku condemned Sprengtporten as a traitor c. 1793.)[60] The Swedish era ended in the Finnish War in 1809.

Russian era

Pioneers in Karelia (1900) by Pekka Halonen[62]

On 29 March 1809, having been taken over by the armies of Alexander I of Russia in the Finnish War, Finland became an autonomous Grand Duchy in the Russian Empire with the recognition given at the Diet held in Porvoo. This situation lasted until the end of 1917. In 1811, Alexander I incorporated the Russian Vyborg province into the Grand Duchy of Finland. In 1854, Finland became involved in Russia's involvement in the Crimean War, when the British and French navies bombed the Finnish coast and Åland during the so-called Åland War. During the Russian era, the Finnish language began to gain recognition. From the 1860s onwards, a strong Finnish nationalist movement known as the Fennoman movement grew, and one of its most prominent leading figures of the movement was the philosopher J. V. Snellman, who was strictly inclined to Hegel's idealism, and who pushed for the stabilization of the status of the Finnish language and its own currency, the Finnish markka, in the Grand Duchy of Finland.[63][64] Milestones included the publication of what would become Finland's national epic – the Kalevala – in 1835, and the Finnish language's achieving equal legal status with Swedish in 1892.

The Finnish famine of 1866–1868 killed approximately 15% of the population, making it one of the worst famines in European history. The famine led the Russian Empire to ease financial regulations, and investment rose in following decades. Economic and political development was rapid.[65] The gross domestic product (GDP) per capita was still half of that of the United States and a third of that of Britain.[65]

In 1906, universal suffrage was adopted in the Grand Duchy of Finland. However, the relationship between the Grand Duchy and the Russian Empire soured when the Russian government made moves to restrict Finnish autonomy. For example, the universal suffrage was, in practice, virtually meaningless, since the tsar did not have to approve any of the laws adopted by the Finnish parliament. Desire for independence gained ground, first among radical liberals[66] and socialists. The case is known as the "Russification of Finland", driven by the last tsar of Russian Empire, Nicholas II.[67]

Civil war and early independence

After the 1917 February Revolution, the position of Finland as part of the Russian Empire was questioned, mainly by Social Democrats. Since the head of state was the tsar of Russia, it was not clear who the chief executive of Finland was after the revolution. The Parliament, controlled by social democrats, passed the so-called Power Act to give the highest authority to the Parliament. This was rejected by the Russian Provisional Government which decided to dissolve the Parliament.[68]

New elections were conducted, in which right-wing parties won with a slim majority. Some social democrats refused to accept the result and still claimed that the dissolution of the parliament (and thus the ensuing elections) were extralegal. The two nearly equally powerful political blocs, the right-wing parties and the social democratic party, were highly antagonized.

The October Revolution in Russia changed the geopolitical situation once more. Suddenly, the right-wing parties in Finland started to reconsider their decision to block the transfer of highest executive power from the Russian government to Finland, as the Bolsheviks took power in Russia. Rather than acknowledge the authority of the Power Act of a few months earlier, the right-wing government, led by Prime Minister P. E. Svinhufvud, presented Declaration of Independence on 4 December 1917, which was officially approved two days later, on 6 December, by the Finnish Parliament. The Russian Soviet Federative Socialist Republic (RSFSR), led by Vladimir Lenin, recognized independence on 4 January 1918.[69]

Finnish military leader and statesman C. G. E. Mannerheim as general officer leading the White Victory Parade at the end of the Finnish Civil War in Helsinki, 1918

On 27 January 1918, the official opening shots of a civil war were fired in two simultaneous events: on the one hand the government's beginning to disarm the Russian forces in Pohjanmaa, and on the other, a coup launched by the Social Democratic Party The latter gained control of southern Finland and Helsinki, but the White government continued in exile from Vaasa. This sparked the brief but bitter civil war. The Whites, who were supported by Imperial Germany, prevailed over the Reds,[70] which were guided by Kullervo Manner's desire to make the newly independent country a Finnish Socialist Workers' Republic (also known as "Red Finland") and part of the RSFSR.[71] After the war, tens of thousands of Reds and suspected sympathizers were interned in camps, where thousands were executed or died from malnutrition and disease. Deep social and political enmity was sown between the Reds and Whites and would last until the Winter War and beyond. Even nowadays, the civil war remains a sensitive topic.[72][73] The civil war and the 1918–1920 activist expeditions called "Kinship Wars" into Soviet Russia strained Eastern relations. At that time, the idea of a Greater Finland also emerged for the first time.[74][75]

After a brief experimentation with monarchy, when an attempt to make Prince Frederick Charles of Hesse King of Finland proved to be a poor success, Finland became a presidential republic, with K. J. Ståhlberg elected as its first president in 1919. As a liberal nationalist and with a legal background, Ståhlberg anchored the state in liberal democracy, guarded the fragile shoot of the rule of law, and embarked on internal reforms.[76] Finland was also one of the first European countries to strongly aim for equality for women, with Miina Sillanpää serving in Väinö Tanner's cabinet as the first female minister in Finnish history in 1926–1927.[77] The Finnish–Russian border was defined in 1920 by the Treaty of Tartu, largely following the historic border but granting Pechenga (Finnish: Petsamo) and its Barents Sea harbour to Finland. Finnish democracy did not experience any Soviet coup attempts and likewise survived the anti-Communist Lapua Movement. Nevertheless, the relationship between Finland and the Soviet Union remained tense. Army officers were trained in France, and relations with Western Europe and Sweden were strengthened.

In 1917, the population was 3 million. Credit-based land reform was enacted after the civil war, increasing the proportion of the capital-owning population.[65] About 70% of workers were occupied in agriculture and 10% in industry.[78] The largest export markets were the United Kingdom and Germany.

World War II and after

Areas ceded by Finland to the Soviet Union after World War II. The Porkkala land lease was returned to Finland in 1956.

Finland fought the Soviet Union in the Winter War of 1939–1940 after the Soviet Union attacked Finland and in the Continuation War of 1941–1944, following Operation Barbarossa, when Finland aligned with Germany following Germany's invasion of the Soviet Union. For 872 days, the German army, aided indirectly by Finnish forces, besieged Leningrad, the USSR's second-largest city.[79] After Finnish resistance to a major Soviet offensive in June and July 1944 led to a standstill, the two sides reached an armistice. This was followed by the Lapland War of 1944–1945, when Finland fought retreating German forces in northern Finland. Perhaps the most famous war heroes during the aforementioned wars were Simo Häyhä,[80][81] Aarne Juutilainen,[82] and Lauri Törni.[83]

The treaties signed with the Soviet Union in 1947 and 1948 included Finnish obligations, restraints, and reparations, as well as further Finnish territorial concessions in addition to those in the Moscow Peace Treaty of 1940. As a result of the two wars, Finland ceded the Petsamo, along with parts of Finnish Karelia and Salla. This amounted to 10% of Finland's land area and 20% of its industrial capacity, including the ports of Vyborg (Viipuri) and the ice-free Liinakhamari (Liinahamari). Almost the whole Finnish population, some 400,000 people, fled these areas. The former Finnish territory now constitutes part of Russia's Republic of Karelia, Leningrad Oblast, and Murmansk Oblast. Finland was never occupied by Soviet forces and it retained its independence, but at a loss of about 97,000 soldiers. The war reparations demanded by the Soviet Union amounted to $300 million (5,449 million in 2019).

Finland rejected Marshall aid, in apparent deference to Soviet desires. However, in the hope of preserving Finland's independence, the United States provided secret development aid and helped the Social Democratic Party.[84] Establishing trade with the Western powers, such as the United Kingdom, and paying reparations to the Soviet Union produced a transformation of Finland from a primarily agrarian economy to an industrialised one. Valmet was founded to create materials for war reparations. After the reparations had been paid off, Finland continued to trade with the Soviet Union in the framework of bilateral trade.

Urho Kekkonen, the eighth president of Finland (1956–1982)

In 1950, 46% of Finnish workers worked in agriculture and a third lived in urban areas.[85] The new jobs in manufacturing, services, and trade quickly attracted people to the towns. The average number of births per woman declined from a baby boom peak of 3.5 in 1947 to 1.5 in 1973.[85] When baby-boomers entered the workforce, the economy did not generate jobs quickly enough, and hundreds of thousands emigrated to the more industrialized Sweden, with emigration peaking in 1969 and 1970.[85] The 1952 Summer Olympics brought international visitors. Finland took part in trade liberalization in the World Bank, the International Monetary Fund and the General Agreement on Tariffs and Trade.

Officially claiming to be neutral, Finland lay in the grey zone between the Western countries and the Soviet bloc. The YYA Treaty (Finno-Soviet Pact of Friendship, Cooperation and Mutual Assistance) gave the Soviet Union some leverage in Finnish domestic politics. This was extensively exploited by president Urho Kekkonen against his opponents. He maintained an effective monopoly on Soviet relations from 1956 on, which was crucial for his continued popularity. In politics, there was a tendency to avoid any policies and statements that could be interpreted as anti-Soviet. This phenomenon was given the name "Finlandization" by the West German press. During the Cold War, Finland also developed into one of the centers of the East-West espionage, in which both the KGB and the CIA played their parts.[86][87][88][89][90][91] The 1949 established Finnish Security Intelligence Service (SUPO, Suojelupoliisi), an operational security authority and a police unit under the Interior Ministry, whose core areas of activity are counter-Intelligence, counter-terrorism and national security,[92] also participated in this activity in some places.[93][94]

Despite close relations with the Soviet Union, Finland maintained a market economy. Various industries benefited from trade privileges with the Soviets, which explains the widespread support that pro-Soviet policies enjoyed among business interests in Finland. Economic growth was rapid in the postwar era, and by 1975 Finland's GDP per capita was the 15th-highest in the world. In the 1970s and '80s, Finland built one of the most extensive welfare states in the world. Finland negotiated with the European Economic Community (EEC, a predecessor of the European Union) a treaty that mostly abolished customs duties towards the EEC starting from 1977, although Finland did not fully join. In 1981, President Urho Kekkonen's failing health forced him to retire after holding office for 25 years.

Finland joined the European Union in 1995 and signed the Lisbon Treaty in 2007.

Finland reacted cautiously to the collapse of the Soviet Union, but swiftly began increasing integration with the West. On 21 September 1990, Finland unilaterally declared the Paris Peace Treaty obsolete, following the German reunification decision nine days earlier.[95]

Miscalculated macroeconomic decisions, a banking crisis, the collapse of its largest trading partner (the Soviet Union), and a global economic downturn caused a deep early 1990s recession in Finland. The depression bottomed out in 1993, and Finland saw steady economic growth for more than ten years.[96] Like other Nordic countries, Finland decentralised its economy since the late 1980s. Financial and product market regulation were loosened. Some state enterprises have been privatized and there have been some modest tax cuts. Finland joined the European Union in 1995, and the Eurozone in 1999. Much of the late 1990s economic growth was fueled by the success of the mobile phone manufacturer Nokia, which held a unique position of representing 80% of the market capitalization of the Helsinki Stock Exchange.

Finland History articles: 168