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At an event named after Chancellor Jaakko Honko on Thursday, August 21, President Sauli Niinistö spoke on the topic ‘Global change – can Europe withstand it?'. Jaakko Honko medals were also awarded at the event.

In 1997, the Helsinki School of Economics, the Helsinki School of Economics Support Foundation, and the Yrjö Jahnsson Foundation established the Jaakko Honko lecture series to honor the life's work of Jaakko Honko (1922–2006), former chancellor and rector of the School of Economics (today School of Business). The lecture, which has become a tradition, was first held in honor of Jaakko Honko's 75th birthday.

Elli Dahl, Executive Director of the Yrjö Jahnsson Foundation, welcomed the participants and spoke about Jaakko Honko's life. ‘Jaakko Honko served as a professor, rector, and chancellor at the School of Economics. Internationality was important to him, and he served as a visiting professor in Sweden, Germany, and the United States and lectured at universities around the world."

After the welcome speech, the host of the evening, Dean Timo Korkeamäki, greeted the large audience.

‘It is wonderful to remember and honor Jaakko Honko together, because he truly took our school to an international level. Now a new academic year is about to begin. We will welcome nearly 1,000 new degree students (943), of whom 582 are bachelor's students, 316 are master's students, and 45 are doctoral students. In addition, we will have almost 200 exchange students."

In his speech, the dean emphasized three points: first, that the graduates of the School of Business continue to find a job easily. Second, he noted that research is conducted at a very high level, and third, that our public funding lags significantly behind that of comparable countries.

News about Helsinki GSE was shared by Professor Marko Terviö, who took over as director of the research center on August 1, 2025. He succeeds Professor Otto Toivanen in this role.

‘Helsinki GSE is doing well. Economists from three small economics departments (Aalto University School of Business, Hanken School of Economics, University of Helsinki) now form a single international-level institution, which was the goal when the research center was established. With Helsinki GSE, we are able to train many more economics experts than before. We conduct high-quality research covering all areas of economics. We also offer high-quality teaching at all levels and in all areas of economics," Terviö said.

Jaakko Honko medals awarded to six individuals distinguished in economics

Jaakko Honko medal is awarded to individuals who have made a significant contribution to the advancement of business or business and economic research and/or who have distinguished themselves in the activities of the Aalto University School of Business, the Helsinki School of Economics Support Foundation, or the Yrjö Jahnsson Foundation. The bronze medal was designed by sculptor Terho Sakki (1930–1997).

This year, the medal was awarded to Managing Partner Riku Asikainen, Rector Ingmar Björkman, Professor Minna Halme, Board Professional Kaisa Hietala, Economist and Research Director Heidi Schauman, and Professor Otto Toivanen. Elli Dahl, Executive Director of the Yrjö Jahnsson Foundation, Arto Mäenmaa, CEO of the Helsinki School of Economics Support Foundation, and Dean Timo Korkeamäki presented the medals. The medals were first awarded in 1989.

‘Global change – can Europe withstand it?”

President Sauli Niinistö gave the Jaakko Honko lecture on the topic ‘Global change – can Europe withstand it?’. The President began by reflecting on the actions and attitudes of world leaders towards Europe, before sharing his thoughts on European citizens. ‘Europeans are lulled into a false sense of security, believing that safety and peace are guaranteed and do not need to be safeguarded. This mindset must be changed. All forms of participation in building security are important. Ways of participating must be developed so that also young people understand that security cannot be taken for granted, but must be worked for and maintained with the right attitude.’

President Niinistö also called for close cooperation between the government and the business community. ‘I understand that this is a challenge, but the knowledge, technology, and experience of both parties must be put to mutual use. Cooperation must be based on trust, because security can only be built if we trust each other.’ 

Thirdly, President Niinistö pointed out that in Europe we talk about the common market, but not about common security. ‘At least to my knowledge, whenever unions have been formed, security has been a primary factor. We must understand that we have common security and therefore also a common responsibility to maintain it. We in Europe must make ourselves so strong that it is also visible to the outside world, because no one challenges the strong. Despite all of the above, I believe that the future is brighter than it appears right now.’

The closing remarks were given by Elina Björklund, Chair of the Board of the HSE Support Foundation, who thanked the speakers for their interesting and thought-provoking presentations. Elina Björklund also announced that Salla Vainio, an alum of the School of Business and a board professional, has been appointed as the new CEO of the HSE Support Foundation. She will take up her post on September 1, 2025. Salla Vainio, M.Sc. (Econ.), will succeed Arto Mäenmaa, M.Sc. (Econ.), as CEO of the Support Foundation. ‘I would like to thank Arto for his more than 30 years of outstanding service to the Support Foundation,’ said Elina Björklund.
 

Text: Terhi Ollikainen
Photos: Matti Ahlgren