Wednesday, May 26, 2010

MEPs back Estonia's euro ambitions

Despite the current economic crisis and tensions in the euro, Estonia is set to adopt the single currency in January. A low budget deficit and low inflation have persuaded MEPs on the Economic and Monetary Affairs Committee. and the European Commission that the small Baltic State is ready for euro membership. However, there are still concerns over the jobless rate, which is approaching 20%.

"Ποταμοῖς τοῖς αὐτοῖς ἐμβαίνομέν τε καὶ οὐκ ἐμβαίνομεν, εἶμέν τε καὶ οὐκ εἶμεν." "We both step and do not step in the same rivers. We are and are not." Heraclitus the Riddler

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