October 10

On October 10, 1979, the Olkiluoto Nuclear Power Plant in Eurajoki, Satakunta, commenced electricity generation. Operated by Teollisuuden Voima, the facility featured two pressurized water reactors with a combined capacity exceeding 1,500 megawatts. It quickly became a backbone of Finland’s energy sector, reducing reliance on imported fuels and supporting industrial growth. The plant’s design incorporated robust safety systems reflective of evolving nuclear standards. Over the decades, Olkiluoto has remained central to discussions on clean energy and climate policy in Europe.

The 2022 Nobel Memorial Prize in Economic Sciences was awarded to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig. The Royal Swedish Academy of Sciences honored their pioneering research on the role of banks during financial crises. Bernanke, former Chair of the U.S. Federal Reserve, provided unprecedented insights into global financial turmoil and central bank policies. Diamond and Dybvig formulated the Diamond-Dybvig model, explaining how bank runs arise and the importance of deposit insurance. Their combined theoretical and empirical work has shaped modern financial regulation and crisis management strategies. Their research influenced reforms implemented after the 2008 global financial crisis, enhancing systemic risk oversight. Their findings continue to guide policymakers, academics and financial institutions in safeguarding economic stability. This recognition underscores the critical impact of economic science in understanding and mitigating financial vulnerabilities.