Tuesday, June 5, 2012

The case of Estonia

Estonia Uses the Euro, and the Economy is Booming

Published: Tuesday, 5 Jun 2012 | 12:17 PM ET
By: Paul Ames

It’s the euro zone Jim, but not as we know it.
Sixteen months after it joined the struggling currency bloc, Estonia is booming. The economy grew 7.6 percent last year, five times the euro-zone average.
Estonia is the only euro-zone country with a budget surplus. National debt is just 6 percent of GDP, compared to 81 percent in virtuous Germany, or 165 percent in Greece.
Shoppers throng Nordic design shops and cool new restaurants in Tallinn, the medieval capital, and cutting-edge tech firms complain they can’t find people to fill their job vacancies. 
Comment: According to Popper it takes only one case to falsify a theory. Here you have one. 

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