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Estonia joins the Euro

  • 03-01-2011 2:27pm
    #1
    Crann na Beatha
    Registered Users, Registered Users 2 Posts: 11,763 ✭✭✭✭


    This post has been deleted.


Comments

  • #2
    KINGVictor
    Registered Users, Registered Users 2 Posts: 1,184 ✭✭✭KINGVictor


    Obaraten wrote: »
    What benefits to Estonia do you see joining the Euro will bring?

    I am a bit confused as to what you are asking but if it is what benefits Estonia will enjoy from the adoption of the Euro? Very complex question in light of recent occurences.

    Despite all the challenges been faced by Euro-member countries as a result of the economic/financial problems in Greece and Ireland and the uncertainty in Portugal, Spain, Belgium and surprisingly France, the Euro is still a very strong currency . A lot of politics is involved in the current crisis, some are blatant, others are speculative. A lot of folks are bent on seeing the end of the currency to make personal gains , others see a black hole in the whole set up and are trying to test the long-term viability of the project. The Euro, however has supporters in the Asian markets notably China and most middle eastern economies that would gladly see the demise of the dollar as the primary international currency of exchange.

    If I was Estonian, I would greet the adoption of the Euro with mixed feelings. On the one hand, a very small country will generate confidence for international investment and portray stability/confidence and it also solidifies independence from Russia, on the other hand, I will be concerned about the level of exposure to the current crisis in the euro-zone in terms of contagion effects.
    I do not share Krugmans sentiments when he says that “So, congratulations to Estonia -- but condolences too. This wasn’t the glittering euro entrance you were promised,” but it is needless for me to say that it will be a bumpy, unpredictable ride ahead.


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