Sunday, January 2, 2011

Estonia and EMU

Estonia is joining the euro zone today. One might wonder why a country would join the single currency when it's been under such fire this year. But Estonia is a model of what official EMU policy requires of national economic policy. The country won't have any problems with EMU membership, as it requires no adjustment. It therefore can only gain in opening up the country more fully for business and aiding consumers as well with more transparent pricing and lower financial transaction costs.

1 comment:

  1. Charlemagne devoted his December 29 column to the question why Estonia would want to join such an embattled currency. (And to how they are able to.)