Mary Childs and Tom Keene, Bloomberg Businessweek
May 12 (Bloomberg) -- European policymakers’ approval of Estonia to adopt the euro in 2011 is ill-timed, with governments in the region struggling to bring down deficits and halt a sovereign-debt crisis, according to Edward Altman, finance professor at New York University’s Stern School of Business.
“Expansion at this time is not a good idea,” Altman said in a Bloomberg Radio interview today with Tom Keene. “There may have been internal political pressures that we don’t know about that caused this to happen or maybe it shows they are still a dynamic entity and want to show the world they’re not finished.”
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Bad Time for Estonia to Join the Euro, Altman Says (4)