Analysts doubt whether Estonia will qualify for euro entry in 2011

Oct 15, 2009
Staff and wire reports

TALLINN - Moody’s estimates that Estonia will not be ready to adopt the euro in 2011, reports news agency LETA. Moody’s Baltic regional senior analyst Kenneth Orchard said that flash calculations indicate that the government should be able to cut the spending by at least 20 percent in the second half of this year in the year-on-year comparison in order to achieve its budget deficit objective. “It will, however, be very difficult [to qualify for the eurozone],” he said, noting that it seems tha ...

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