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Koovit, Kaja

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Postimees - Estonia | 12/05/2010

Estonia deserves the euro

The EU Commission will decide today, Wednesday, whether Estonia may introduce the euro on January 1, 2011. The daily Postimees is sceptical: "Irrespective of whether an ambitious but small and poor Eastern European state meets all the criteria, the decision on whether it will be allowed to introduce the euro is ultimately purely political. In all probability Estonia will face the same fate as Lithuania [which was rejected on the grounds that its inflation exceeded the limit by 0.1 percentage point]. Some bagatelle or other will be found to slam the door to the Eurozone in our faces at the last moment. ... That doesn't stop Estonia from cutting a fine figure compared with all the euro countries fighting mountains of debt. While the big members can't get their national debt under the 60 percent mark, Estonia draws looks of envy with its 10 percent, to say nothing of the fact that our budget deficit is under three percent."

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