Jüri Mõis, Estonian businessman and founder of Hansapank, says that most the business culture of the boom times has gone as companies in Estonia today lack any payment discipline. Speaking at the Äripäev conference Business Plan 2011, Mõis said that most companies have huge debts and are fighting to survive. "The real name of this crisis is debt crisis," he said.
Mõis went on to say that large debts have eroded the otherwide good payment discipline of Estonian companies and most of the business culture. "The reason is simple - there is no money.
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Jüri Mõis: Estonia is in debt crisis