By Henry Chu
Los Angeles Times, published online by the Seattle Times
TALLINN, Estonia — So what if international investors are fleeing the euro in droves, judging it too risky and unstable? Jurgen Ligi is running in the opposite direction: into the currency's arms, with his entire country in tow.
On Jan. 1, 2011, after an arduous eligibility process, Estonia is expected to bid goodbye to its beloved kroon and become the 17th country to adopt the euro.
At a time when some question the currency's very survival, the Estonian government insists the euro remains a desirable commodity and that switching over would re-brand this Baltic nation.
"Estonia ... is unknown. Markets do not believe in us," Ligi, the country's finance minister, said in his office in Tallinn, the capital. Adopting the euro would stamp Estonia with "the quality mark of the European economy" and instantly make the country more attractive to investors as a member of the club, Ligi said.
Read the entire article online here:
http://seattletimes.nwsource.c...
Estonia eager to embrace euro despite currency's woes (2)
Rahvusvahelised uudised | 21 Jun 2010 | EWR
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Kommentaarid on kirjutatud EWR lugejate poolt. Nende sisu ei pruugi ühtida EWR toimetuse seisukohtadega.
For the past 10 years Riigikogu has rather dishonestly pegged its own wage to the average Estonian wage enabling her to legitimize further increases in pay, causing a gulf in wages that ultimately will turn out to be the powderkeg for the undoing of the Estonian economy once the Euro is introduced in 2011. I am forecasting a social revolution of sorts, beginning around autumn 2011 with public demonstrations and workers strikes of the kind not seen here since 1939. Anti-government sentiment in the public mind over the erosion of the quality of life throughout the nation will be the final curtain for the government of the day. The next government will certainly have its work cut out for it!
Let's hope Ligi's right. But even if he's not, key political officials will forgive him for at least trying. Key promoters of the Euro have an agenda that they dare not make public, because the need to dispel with any conspiracy theories plays right into the hands of the same self-made so-called progressive political wing. 100 years ago you would have been considered a complete idiot to go against the tide-these days Ligi gets the thumbs up knowing full well that the little financial acumen he posesses will be stretched to the limit in order to convince the Estonian public that the nation is run by a bunch of geniuses. Why people continue to support the erosion of our national independence remains a complete mystery to me.
Rahvusvahelised uudised
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