“European economy has gone through a three-phased crisis: first a banking crisis, then a sovereign debt crisis, now a growth crisis. The situation is still very fragile

On Tuesday 24 June, the President of the Republic appointed Finland’s 73rd Government. At the same time, the President of the Republic released the ministers of Jyrki Katainen’s Government from their duties. The Government headed by Prime Minister Alexander Stubb consists of 17 ministers.

The Government decided on 18 June to nominate Jyrki Katainen as Finland's candidate for the period of 1 July-31 October 2014 in the European Commission.

Finland's Prime Minister Jyrki Katainen urges his fellow EU leaders to make economic growth and new jobs Europe's top priority and agree on concrete measures to pursue it. Member States are in the process of setting EU's strategic guidelines for the next years, to be concluded by the June European Council.

On 24-25 March 2014, the Government agreed on the central government spending limits and the general government fiscal plan for 2015-2018. The objective of the fiscal and economic policy of Prime Minister Jyrki Katainen's Government is to strengthen the financial foundation of the welfare society and conditions for growth to ensure that public finances are on a sustainable basis.

On 22 January the European Commission published the EU's new climate and energy policy goals. The Commission proposes that greenhouse gas emissions be lowered by 40 percent by 2030, while the target for renewable energy be raised to 27 percent. EU's climate and energy policy is largely in line with Finnish targets, says Prime Minister Katainen.

The European Council meeting, which was held in Brussels on Thursday and Friday, focused on the EU’s Common Security and Defence Policy and the Banking Union. This was the first time that the Common Security and Defence Policy featured as the summit's main theme and it included a presentation by NATO Secretary General Anders Fogh Rasmussen.

The European Council will meet in Brussels on 19 December. The main theme of the summit is, for the first time, the EU’s Common Security and Defence Policy and defence cooperation. EU leaders will also discuss the development of the Economic and Monetary Union, migration and the enlargement of the EU.

Europe is actively discussing the fitness of EU-level legislation and regulation. Finland has been among the first countries to promote the initiative. Today, Prime Minister Katainen will discuss the issue with Commission President José Manuel Barroso in Brussels. At the same time, senior officials from the European Commission are visiting Helsinki to hear the opinions of the Finnish Parliament, ministries and interest groups on EU regulation.

At its December summit, the European Council will discuss the Common Security and Defence Policy of the EU for the first time in eight years. In recent years we have grown used to endless European Council meetings dealing only with the fate of the euro. Why have security and defence matters now risen onto the agenda of the heads of state? What objectives have been set for the talks? What results can be expected in December?