Jun
18
2010

Praising the 'Sound Policies' That Sank Estonia's Economy

The New York Times (6/18/10) reports from Brussels that "the mood here was upbeat" as Estonia adopted the euro as its official currency. Despite the debt crisis, reporter James Kanter writes, "the euro remains among the strongest currencies in the world, and membership opens the door to a club with global influence. For small and unsure countries on the fringes of the European Union, it doesn't get much better." Quoting the European Union as praising Estonia's "sound economic and financial policies" in recent years, the article calls Euro membership a "recognition of the hard work and sacrifice it took to […]