News
Almunia: Estonia's goal of joining euro in 2011 is achievable
12.06.2009
|
BBN: Estonia's plan to adapt euro in 2011 is ambitious, but achievable, Joaquin Almunia, European Union Monetary Affairs Commissioner said, ERR News reports. He doesn't think that Estonia does budget cuts too slowly. "I believe that the government does what it has to do. If you overreact in monetary policy, you may kill expectations of new growth. Estonia needs growth," Almunia said. He didn't speculate over EEK devaluation. |
"I don't want to speculate over negative scenarios. Let's work for positive scenarios. One the one had its Latvia's budget cuts and on the other hand our financial help to them after the cuts have been done," Almunia said. European Commission considers Estonia to be one of seven countries who are able to keep their budget deficit below 3 pct. Observers believe that it's too soon to make generalisations over these countries (other six are: Finland, Sweden, Denmark, Bulgaria, Luxembourg and Cyprus). |
