The second term of office for Erkki Liikanen, Governor of the Bank of Finland, will commence on 12 July 2011. The term is for seven years.
The President of the Republic, Tarja Halonen, appointed Liikanen for a second term on 11 March 2011. The office of Governor may be held by the same person for a maximum of two seven-year terms.
The Governor of the Bank of Finland is also a Member of the Governing Council of the European Central Bank (ECB). The Governing Council is the supreme decision-making body of the ECB and decides, inter alia, on the monetary policy of the euro area.