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Free AccessAlexander Stubb Wins Race To Become Finnish President
Centre-right former Prime Minister Alexander Stubb defeated ex-Foreign Minister Pekka Haavisto in a historically tight race to become Finland's President, garnering 51.6% of the vote in the run-off, and hence will take office on March 1.
- Stubb advanced to the run-off as a front-runner, having secured 27.2% of all votes. In the second round, he won in 261 out of 309 municipalities but his rival was more popular in more densely populated areas.
- The Finnish President has limited powers, despite formally ranking first in the protocol. However, they play some role in foreign and defence policy. Domestically, they can act as a mediator and have some appointing powers.
- Worth noting that Bank of Finland Governor Olli Rehn also threw his hat into the ring, but he failed to advance to the run-off, securing 15.3% of the vote in the first round, which put him in fourth place.
- Stubb has been a proponent of deeper European integration and has long been pushing for NATO entry. He has taken a hawkish stance towards Russia, pledging that "there will be no relations with the President of Russia" until the war is stopped.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.