Welcome, Estonia, to flawed euroland
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Peter28 Dec 2010 05:04
It is now obvious to me that Estonian politicians are so corrupt that they really care nothing about their country's well-being and will push forward with every demand put on them by the EU, including the adoption of the terminally ill euro currency.
to - Peter28 Dec 2010 12:20
The ideal solution to a social problem is rarely available. Often, it's the best among bad options that must be selected.
Estonia's adoption of the Euro is one of those cases. It's too bad, but that's just the way it is. It has got nothing to do with corruption.
rahvasaadik28 Dec 2010 14:20
There is no stain on the Estonian currency, yet the Euro is stained beyond repair. Why big is always better when there are better options than the ones that compromise Estonia is not clear. Russia is going to win as much out of Estonia's preferred currency because from 2011 tariffs in Estonian-Russian trade are going to be set in favor of Russia and not Estonia. Besides that Russia would prefer to do trade with Estonia in Euros because there is no shortage of that currency in Russia anyway. To imagine that the Euro is one way of distancing Estonia from Russia is just sticking one's head in the sand without realizing what the reality is going to be for Estonian trade in future. There could not be a worse time than now to change currency whatever the change might happen to be.
News Flash!28 Dec 2010 17:46
"There is no stain on the Estonian currency, yet the Euro is stained beyond repair." -- Is that a fact?

For your information, Estonia's kroon is tied to the euro. So, whatever happens to the euro, happens to the kroon.
Samalt IP numbrilt on siin varem kommenteerinud: to - Peter (12:20)
Peter29 Dec 2010 05:07
I have heard from some others that adopting the Euro is a bad thing but it is still inevitable. May I ask why? This argument is similar to the one used by the left a few decades a go, that communism, while not perfect, is progress and that like it or not, we are all someday headed in that direction.
The left has found a new cause, the EU, and they have been joined in an unholy alliance by banks and big businesses who see national sovreignty as an inconvenience to doing business.
As far as corruption is concerned, just look at the massive paycheques that Estonian politicians are now drawing from the EU, compared to what they were making before. These people have so much money that they can buy all the gold and real estate they want so they really don't care how long the euro lasts and what the consequences of its demise will be to the Estonian people.
In response to the argument that the kroon is already pegged to the euro, the Estonian government now has the option of pegging their currency to another one (Latvia's currency was pegged to the dollar, not the mark) and in these difficult and unstable times, it would be wise to keep this option open.
The EU has already shown itself as being incompetent when it comes to handling its finances and those countries that have not adopted the euro are saying "I told you so" to the others. Estonia simply does not have the money to bail out the corrupt, money-wasting members of the EU which is bound to happen, making the Estonian people poorer and their leaders more prestigious in the EU. Even Germany is having regrets as most Germans now see the adoption of the euro to have been a mistake and would like to see the return of the mark. And they may get this wish soon.
Samalt IP numbrilt on siin varem kommenteerinud: Peter (05:04)
Toomas Merilo29 Dec 2010 14:51
To: Peter

The Latvian Lats has never been pegged to the US dollar. Up to about the end of 2004, it was pegged to IMF SDR’s (Special Drawing Rights) which represented a composite basket (US, Br. Pounds, Euro, Yen). Since 2005 the Lats is pegged to the Euro.

That Peter is wrong once again does not surprise me. That he publicly wishes to advertise his ignorance, however, does.
Peter30 Dec 2010 06:41
I stand corrected, Lithuania pegged their currency to the US dollar from 1994 to 2002 while Latvia's currency was pegged to the SDR basket which consisted of the dollar, euro, pound and yen.
Samalt IP numbrilt on siin varem kommenteerinud: Peter (05:04), Peter (05:07)
Toronto Sun editorial28 Dec 2010 10:23
The welfare state has roared back to bite the British lion in the rump.

Ditto for the Irish economy.

Saddled with massive debt and staggering under unaffordable social programs, both the British and the Irish are facing massive cuts.

Britain is cutting everything from the military to social services.

Ireland is bankrupt.

Compared to Ireland, things are positively rosy in the U.K. They’ve given the Irish an embarrassing 10 billion pounds ($16 billion Cdn) bailout. The European Union has given the Irish an 87 billion euro ($111 billion Cdn) bailout.

Ironically, the country that fought so hard for its independence from Britain is now beholden to the whole of Europe.

As the euro sinks, Britons are congratulating themselves on one thing. At least they stayed out of that boondoggle.

Ironically, it was her refusal to be part of the euro that brought down former British prime minister Margaret Thatcher.

She’s now vindicated. Her opponents on the euro — such as former PM Tony Blair — are strangely quiet.

Ireland didn’t heed the warnings and joined the euro. It should serve as a warning that nations that lose control of their monetary system lose control of their destiny.
News flash!28 Dec 2010 17:55
Maxim de la Trine has adopted a new handle - Rahvasaadik - as if he was a diplomat, of sorts, entitled to speak on our behalf.
He believes that he knows more than the rest of us combined.
Samalt IP numbrilt on siin varem kommenteerinud: to - Peter (12:20), News Flash! (17:46)
hmmmmmm28 Dec 2010 22:27
"He believes that he knows more than the rest of us combined."

Pray tell, what in the world would the rest of you know ?
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