Poor man status awaits if Estonia adopts euro too soon

Dec 02, 2009
Staff and wire reports

TALLINN - Rapid accession to the eurozone is a trap for the future economic development of Estonia, says Professor of Nord Academy Ivar Raig, reports news agency LETA. He says that while most Estonian politicians and economists claim that euro adoption would promote business confidence towards Estonia, drawing in new investment leading to a reduction of unemployment, the euro would actually stall economic growth and structural reforms, and end up increasing social problems and unemployment. R ...

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