Estonian president defends imminent euro-accession (8)
Rahvusvahelised uudised | 13 Dec 2010  | EWR OnlineEWR
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Valentina Pop

EUOBSERVER / BRUSSELS – Estonia's accession to the eurzone, due to take place at the start of 2011, is in its own interest despite the current sovereign debt crisis gripping the monetary union, Estonian President Toomas Ilves has told EUobserver in an interview.

"I don't know if there is a good time or a bad time to join the euro, but it's quite clear that it is in our interest to join the eurozone. It will boost business confidence, investor confidence and also the well-being and confidence of our people," Mr Ilves said on Thursday (8 December) during his two-day visit in Brussels.

A former journalist working for Radio Free Europe from 1983-1994, Mr Ilves dismissed as "yellow" or tabloid-ish journalism the suggestion that the euro is falling apart or that Estonians are "silly" for wanting to join.

Continue reading here:
http://euobserver.com/9/31468/...
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Viimased kommentaarid

Kommentaarid on kirjutatud EWR lugejate poolt. Nende sisu ei pruugi ühtida EWR toimetuse seisukohtadega.
euro17 Dec 2010 19:09
this is called trying to weaken nationalistic strength at the altar of global financial governance ... most likely to happen if the middle klass of kulaks go missing
Maxim17 Dec 2010 15:45
Eesti kroon was first and foremost subject to the will and authority of Eesti Pank who in turn pegged its currency to the Euro. On the same weekend that Estonia was admitted to the Eurozone, Estonia was subject to breaking all hitherto national sovereignty over any policy concerning monetary rights that have existed in Estonia during the past 20 years since the inception of the Kroon. This effectively means that Estonian financial affairs are now entirely controlled by the European Union and Estonia is subject to all the rules and regulations forthcoming from within the framework of EU Financial policy without any right to retain any portion of vital national financial policy and law. There is no provision for national financial planning which the EU accedes to any member state, and there are already significant compulsory contribution rates on an intra-national scale which Estonia is subject to from 2011, including a 12 billion Euro bailout contribution to salvage those EU countries presently facing economic difficulty. To be fair, the Euro will not significantly affect those people whose monthly bruto wage is upwards of 20, 000 EEK-s who manage to make ends meet even in these months of a radically spiralling cost of living, but it will become the basis of a growing economic struggle for those people whose standard of living has dropped by up the half of what it was before 2010. This, in fact is the primary catalyst for the dramatic upswing of economic migration likely to take on a sweeping new level commencing from the new year.
€ not17 Dec 2010 15:06
"When Estonia regained independence, its currency was pegged to the German Mark. Since Germany switched the Euro, Estonia's currency has been pegged to the Euro." So what's going to change on Jan. 1, 2011?

First, Estonians decided to peg the kroon to the Deutschmark! Now Estonians will have zero say.
Second,devaluing the kroon would have been a wise move which could have helped Estonian employment levels.
Now the Estonian government has no monetary policy lever to help its own people ... meaning the makers of the euro-rubla determine Estonia's economic destiny.

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