Finnish Central Bank Says New Coalition Program Breaches Laws

Finland’s incoming government program violates national and European legislation by threatening central bank independence, the Bank of Finland said in a letter to the designated prime minister.

Sections of the coalition program unveiled on Friday are “problematic,” as they go against a key element of central banks’ autonomy that prohibits taking instructions from other parties in performing their duties, according to the letter to National Coalition Party head Petteri Orpo, dated June 17 and co-signed by central bank Governor Olli Rehn.