Industry agreement to end threat of strikes in Finland, for now

Finland's key industrial employers' group reached a deal with labor unions on Friday over pay rises and working conditions, alleviating the immediate threat of more widespread strikes after five months of talks. To be final, the agreement still requires formal approval by both sides, after which details can be made public, their representatives said.

"The outcome of decision making and the content of the possible agreement will be communicated towards the end of the afternoon tomorrow," chief negotiator Minna Helle of Finland's Technology Industries, representing key exporters, said in a tweet. If approved, the agreement will bring some calm to the Finnish labor market, which was hit by several disputes last month, including one that led the prime minister to resign.

Strikes could resume later this year however as municipal and other public service unions and employee federations will begin negotiating their employment terms and conditions.