Yesterday Finland held its parliamentary elections where it chose the representatives to drive Finland forward for the next four years. National Coalition Party (NCP) took the position of the largest party with 44 seats of the 200 seat parliament while Social Democrats, a former opposition party, took 42 seats. However, the rise of the True Finns in the largest gain of seats in Finnish history, from 5 in 2007 to 39 last night, signals change in many ways. While we don’t usually cover politics in this great detail, the rise of the True Finns could also effect startups and growth entrepreneurs in a very significant way.
Most Finnish media are currently forecasting the combination of the government to be formed from the three largest parties. For entrepreneurship, this means interesting times and not perhaps in the most optimistic ways. NCP is by far the most entrepreneurial while Social Democrats wish for employment opportunities, but fail to combine this with entrepreneurship. True Finns and their stance on all this really are unknown.
One thing is given – the rise of the True Finns is hard to ignore and most likely, they will become a party with ministerial responsibility. If this holds true – we will see a lot of changes.
A lot of this is still speculation as the talks to form the government will begin soon, lead by the NCP. However, despite Finland being a small country, the results of this election have already shaken the value of Euro (updated to Business Insider’s story) as investors feel the rise of True Finns could affect the bailout package for Portugal. Just a sign of what 39 seats in a small Finnish parliament can achieve – even before they begin work.