A fast-growing economy, free trade and a currency board for the ex-soviet Baltic country, gained the possibility to use the Euro. An increase of 14'1% Estonian GDP in 2009 proves that they deserve it. Some economists expected a devaluation of the Estonian economy but didn't happen: Flexible wages and prices gave to the country a sense of stability instead
While countries are near of bankrupt, Estonia, as well as Sweden, meet the requirements to use Euro currency. Why should they then, don't use it? That's why Commission gave Estonia the green light to adopt Euro at 2011.
- Estonian numbers
- Low inflation, 0.7% at 2009, compared to the 1% benchmark.
- One of the smaller national debt of EU, 7.2% of GDP.
- In the middle of a crisis, exportations are expected to grow a 1%.
So, in 2011, we'll say 'Hi!' to Estonia
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3 comentaris:
Do they WANT to get in on the Euro? With the current crisis it seems like it would do them more harm than good to enter the Eurozone while it's falling apart.
Euro will not fall apart. Current days are a tough ones, but no a single country will let other fall, that's why will resist...If we don't have more'Greek's', of course.
You have more information here:
http://economylessons.blogspot.com/2010/05/euro-currency-current-state-of-euro-at.html
Estonia can be a worthy member for EU, don't you think the same? At least the aren't like Turkey.
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