Posted on 12/30/2010 11:03:47 PM PST by Cronos
On Saturday, Estonia completes its trip from Soviet republic to full-fledged member of the euro zone.
In the first minutes of the new year, Prime Minister Andrus Ansip will slide a bank card into an automated teller machine installed for the occasion in front of the opera house here in the capital.
He will withdraw some euro bills, and Estonia will officially become the 17th member of the zone.
(Excerpt) Read more at nytimes.com ...
A sucker is born everyday.
I was in Slovakia when it went into the EU in 2004.
They did not join the Euro Zone and go on the Euro until
Jan. 2009.
I left Slovakia on Jan 9 of that year.
The economy is now in a mess, along with all of Europe.
It is a great little country.
I wish they had stayed out of the EU.
I was in Estonia in May of this year. It is a beautiful small country. 1.3 million seems reasonable. I feel bad that they are going to the Euro. It just means higher prices for them. A few people voted in the Euro, but all 1.3 million have to deal with it.
the euro is a bad deal
for everyone except Germany
The Tallinn beer festival in 2007 sold half liters of Saku and A le Coq for 25 Krooni per half liter (about $2.50 at the time). A very good day.
I think it’s bad for Germany too — it has to bail out Greece, Spain, etc. etc.
to post 7.
Germany gets to...past, present, future...
spend way more of newly issued money,
than its fair share.
not surprisingly, Germany is in a good position
to loan the chump countries a few euros
Seriously, your post makes no sense at all.
In all likelihood Estonia will suffer greatly because of decision to join the euro.
Estonia is still an "emerging" economy. The inflationary pressure will continue to be strong. In the meantime the ClubMed countries, Belgium, Ireland and others will be in a deflationary situation, and though Germany will pressure the ECB next year for increased interest rates, they will be far too low to suit Estonia. In short, low interest rates, and high inflation means negative real interest rates. And what does that usually bring: bubbles.
Apparently no-one in the eurozone remembers what happened to Ireland and Spain. Strange, considering the fact that they have been in the news lately.
Politicians who spend way more money than they have? Seems to be the norm in Europe.....
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