At a glance
Finland has been a member of the euro area since 1 January 1999. Euro banknotes and coins were introduced on 1 January 2002. Until that date the euro was the official currency but only existed as 'book money'. The euro replaced the Finnish markka (FIM) at a conversion rate of EUR 1 = FIM 5.94573.
Finland is represented by Jyrki Katainen, Prime Minister, at Euro Summit meetings and by its Minister for Finance, Jutta Urpilainen, at Eurogroup meetings.
- Adoption of the euro: 01/01/1999
- Former currency: Finnish markka (EUR 1 = FIM 5.94573 )
- GDP per capita (current prices): €35 200 (2011 - Eurostat)
- Number of votes at the Council of the EU: 7
- Member of the Schengen area: Yes
- Official languages: Finnish (fi), Swedish (sv)
Finland has a unicameral parliamentary system. The Parliament (Eduskunta) has 200 members, elected for four years.
The President of the Republic is elected by universal suffrage for six years. He/she may not serve more than two consecutive terms.
The Prime Minister is elected by the Parliament and formally appointed by the President.
- Political system: republic
- Voting age: 18, voting not compulsory
- National Day: 6 December (date of independence from the Russian Empire – 1917)
Excessive Deficit Procedure