• Foreign Minister Alexander Stubb talks to Prima:
BARACK OBAMA'S INITIATIVES MUST BE ACTED ON IMMEDIATELY

Foreign Minister Alexander Stubb says in his interview in Prima Magazine, coming out on Thursday 11 June, that unless the EU acts promptly on the initiatives of US President Barack Obama and his administration, Europe and Finland are at risk of being sidelined when the United States and China begin sorting out global issues themselves.

“What worries me most in US–EU relations is whether we will be able to answer the challenge and respond to the co-operation initiatives that the US government has presented us with,” says Stubb. “The Obama administration may quickly lose interest if the EU is unable to form a clear and united view. The alternative scenario is that they shift to bilateral co-operation with countries such as Germany, France and Britain. For Finland that would be unfortunate."

Stubb points out that during the financial crisis, economic issues are a strong priority on the global agenda. The financial and real economy crises have woken the world up to the reality of having to find common solutions to common problems. “Things are really happening now. For example, the West and Russia have become closer again, after a cool period in relations during the war in Georgia. Then we were hit by the economic crisis. Everyone has understood that we are all in the same boat.” Stubb hopes that the “positive vicious circle” will bring the world back to its feet. As political relations become warmer, it is much easier to try and find solutions to economic problems.

• Brand guru Simon Anholt:
FINLAND'S IMAGE CANNOT BE IMPROVED THROUGH FANCY TRICKS

Simon Anholt, advisor to Finland’s Country Brand Working Group headed by Jorma Ollila, says that the image problem of Finland stems from the low profile Finland has internationally. Finland has a good reputation but is easily overshadowed by other Nordic countries.

According to Anholt, persistent work will bring results and Finland can succeed in building its brand. “I strongly believe that Finland has a unique identity and many such advantages that could make Finland a more significant player on the global scale.”

Anholt emphasises that a country’s international reputation cannot be improved through marketing tricks, but real effort. “It is impossible to force a national image through an advertising campaign, logos and slogans. A reputation is earned. That takes action rather than words.”

Anholt says it has been only in the last few years that the economic sector has started to understand how important the national image is. “Companies benefit immensely from a country’s good reputation – and similarly will suffer a great deal if the reputation is poor.”

• Rector Tuula Teeri:
THE AALTO UNIVERSITY WILL BRING INVESTMENTS IN FINLAND

Tuula Teeri, Rector of Aalto University, thinks one of the merits of the new university concept of Aalto University is that it can encourage new investments in Finland.

“What we have is a new combination that creates competitive advantage and facilitates innovation. Companies will take their R&D investments where the standard of teaching and research in high. Aalto University wants to contribute to encouraging more investment in Finland,” Teeri says.
”That is why we must strive for excellence.”

• Economists: OPTIMISM IN THE AIR

Professor Bengt Holmström predicts the financial crisis has reached a point where we are standing on slightly firmer ground. He says there are still many factors creating uncertainty, but in the United States, 2010 may well prove to be a year of growth.

“We were all caught off guard by how steep the fall was. In October and November, world trade hit a brick wall. One possible explanation was the supply–demand chain of today: stocks are kept low and each step in the supply chain becomes almost immediately aware of changes in demand. It is like a train where all carriages stop when the engine stops. Maybe the same logic will hold in times of economic boom also. When the engine starts, all the carriages will also nudge forward. If this is the case, we can more likely expect a V-shaped recovery curve, rather than a U or L, or any other shaped curve,” writes Holmström in his column for Prima.

Nordea’s Global Chief Economist Helge J. Pedersen is, on the other hand, expecting the extensive recovery measures to take effect in the third quarter of this year, when the US and Southeast Asia will begin a gradual climb out of recession.  “In Europe, we will see the change closer to the new year, perhaps in the early part of 2010.”