Estonia's former leader and European Commissioner was a important figure in shaping the continent's modern politics
Siim Kallas, the former Prime Minister of Estonia and European Commissioner, who played a key role in the country’s economic transition away from the Soviet system, died on Friday 21 August.
“It is with great sadness that I have to announce that my dear father, Siim Kallas, passed away last night,” the EU’s top diplomat Kaja Kallas said on Instagram.
Before entering politics in 1995, Kallas had served as president of the Bank of Estonia in 1991, at the time of the restoration of his country’s independence. He oversaw the phasing out of the Soviet rouble and the introduction of a national currency in 1992.
As minister of finance, Kallas championed a corporate tax reform under which reinvested profits were not taxed. Introduced in 2000, the system became a key factor in Estonia’s economic attractiveness and helped boost interest among foreign investors.
