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Apparently we do Isaac Send a noteboard - 13/05/2010 05:34:41 PM
Running the numbers on a GDP of 24 billion and 7.2% debt, that's like 2 billion dollars with a deficit 400 million a year or about 300 bucks a person per year on a $1500 current debt, not too likely to be a Greek-level crisis even though their GDP per capita's only about $18,000 a year. Sounds like a good deal for everyone involved.


And by "neo-liberal", I mean they've started over entirely with a radical break from their communist past, creating a highly competitive economy without burdensome entitlement issues or overly expensive social security. They even have that flat tax that iirc you were advocating in another post.

Of course, Estonia is so small that its inclusion really doesn't matter much either way. Rather like Slovenia that way. The only latecomer to the euro that really has some weight (if you leave out Greece, which wasn't much of a latecomer, evidently it should've been more so :P ) is Slovakia, and even that is only a country of what, five million? The real question is whether Poland or Romania will ever be in a position to join - or even the Czech Republic. Then again, all these smaller countries do add up - Latvia and Lithuania will likely follow within a number of years.


I actually looked them up on Heritage Foundation's site [right wing site], because the wiki and state dept comment son them are vague and cheerfully diplomatic. Heritage ranks them very high on economic freedom, though down a bit from their last survey, and speaks fairly glowingly - though also rather briefly - of Estonia's post cold war progress. Unfortunately while we are one of their larger distant importers, we don't really sell them much, make up only a small percent of their foreign investments (roughly tied with UK, apparently they are tight with Sweden in that regard) and really have little to do with them, but they've been fairly supportive of US foreign policy and committed troops to both our current wars. So, happy to see they are pushing upward and keeping tight relations with the West. They're very similiar in size, population and climate to New Hampshire I gather, a bit larger

Glad to hear about their Flat Tax efforts though I am not actually a supporter of Flat Tax, I just am open to it, I consider myself a fence sitter on tax policy (method not amount) by lack of deep economic knowledge. Loosely speaking, I tend to favor a smaller Flat Tax with deductions for the federal, sales tax for the states and counties, and property tax for municipal, and that tariffs should really be small and limited to offsetting costs associated with port and customs security.
The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift.
- Albert Einstein

King of Cairhien 20-7-2
Chancellor of the Landsraad, Archduke of Is'Mod
This message last edited by Isaac on 13/05/2010 at 05:36:48 PM
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So the list of countries using the euro will grow longer, not shorter... Estonia to join in 2011 - 12/05/2010 10:51:37 PM 1090 Views
Sounds like a winner - 12/05/2010 11:07:38 PM 708 Views
You Americans should like Estonia - they're rather neoliberal that way. - 12/05/2010 11:18:30 PM 904 Views
Apparently we do - 13/05/2010 05:34:41 PM 751 Views
I liked the remark one Estonian bankofficial made - 12/05/2010 11:38:26 PM 666 Views
Re: I liked the remark one Estonian bankofficial made - 12/05/2010 11:42:37 PM 735 Views
I stand corrected than - 12/05/2010 11:45:33 PM 620 Views
I do sometimes wish more Belgians would understand that. - 12/05/2010 11:52:41 PM 605 Views
Re: I do sometimes wish more Belgians would understand that. - 13/05/2010 12:05:03 AM 609 Views
That would be more convincing if universities promoted more social mobility. - 13/05/2010 12:11:37 AM 738 Views
Social attitudes take a very long time to change. - 13/05/2010 12:28:09 AM 756 Views
We have need-based scholarships. We could extend them. - 13/05/2010 12:38:31 AM 633 Views
I guess it depends on exactly what the fees are. - 13/05/2010 11:06:37 AM 722 Views
They're low. Too low. - 13/05/2010 12:12:29 PM 748 Views
American universities do have entrance exams. Sort of. - 13/05/2010 02:17:13 PM 742 Views
Those are really too lame to count. - 13/05/2010 02:21:23 PM 792 Views
Re: Those are really too lame to count. - 13/05/2010 05:04:25 PM 795 Views
typically the more specialized programs require that - 13/05/2010 05:53:20 PM 704 Views
Re: Those are really too lame to count. - 13/05/2010 07:32:19 PM 803 Views
Like I indicated, I'm not suggesting it in the American system. - 13/05/2010 07:53:15 PM 800 Views
meh. Most degrees are useless anyway. - 13/05/2010 01:14:54 AM 629 Views
Come on. - 13/05/2010 10:13:29 AM 785 Views
You ever been to Estonia? If not, stop speaking. *NM* - 13/05/2010 10:29:17 AM 398 Views
your funny *NM* - 13/05/2010 02:01:06 PM 265 Views
Surely Sweden can say, or could have said, that they wouldn't join till they damn well felt like it? - 12/05/2010 11:39:57 PM 659 Views
Apparently Denmark only got the opt-out after rejecting the Maastricht treaty. - 12/05/2010 11:47:00 PM 700 Views
Good point: it seems to me no-one cares about being Belgian, only Flemish or Walloon . - 12/05/2010 11:51:27 PM 572 Views
It's slightly more subtle than that. - 13/05/2010 12:00:29 AM 737 Views
What do you think about this suggestion? - 13/05/2010 12:09:02 AM 724 Views
That has been suggested by many, yeah. - 13/05/2010 12:28:24 AM 736 Views
But before you make a decision like that... - 13/05/2010 08:36:07 AM 720 Views
We have a Flemish government, though. - 13/05/2010 12:22:57 PM 756 Views
There is one answer to most of those questions - 12/05/2010 11:49:46 PM 600 Views
I love that the rest of you have the euro. - 12/05/2010 11:53:10 PM 590 Views
*waits for the Pound to drop and the UK begging for the euro* *NM* - 12/05/2010 11:56:25 PM 340 Views
That would be the worst time to do it. - 13/05/2010 12:05:32 AM 690 Views
Well... that is true. But your exports would be really high. - 13/05/2010 12:11:50 AM 635 Views
Also the best time. - 13/05/2010 12:11:53 AM 688 Views
I WIN *NM* - 13/05/2010 12:12:51 AM 273 Views
Bah *NM* - 13/05/2010 12:18:48 AM 241 Views
It was the best of times, it was the worst of times... *NM* - 13/05/2010 12:19:32 AM 231 Views
There is a small problem with that... - 13/05/2010 10:21:44 AM 588 Views
I found the wikipedia article. - 13/05/2010 10:53:00 AM 779 Views
WOW WHEN DID THE UK CHANGE THEIR COINS - 13/05/2010 12:10:41 AM 690 Views
2008, apparently. Though I don't think we actually saw them until 2009. - 13/05/2010 12:17:46 AM 701 Views
I used to use a ten-pound note to inhale...things. - 13/05/2010 05:54:09 AM 647 Views
You have a thing for Charles Darwin? - 13/05/2010 10:45:14 AM 596 Views
From "Mean Mr. Mustard" - "keeps a ten-bob note up his nose...such a mean old man..." - 13/05/2010 02:36:34 PM 629 Views
In that case I'm going to have to disappoint you. - 13/05/2010 02:54:04 PM 758 Views
I knew that, but I had limited options. - 13/05/2010 03:15:07 PM 736 Views
You could try a €500 note. - 13/05/2010 03:18:11 PM 630 Views
In other news, the sky is blue. - 13/05/2010 03:33:25 PM 656 Views
I seem to remember reading something in 2002 about Germans paying their monthly rent in cash. - 13/05/2010 03:43:35 PM 734 Views
Hm. Possible. - 13/05/2010 03:50:31 PM 609 Views
Re: In other news, the sky is blue. - 13/05/2010 07:45:06 PM 731 Views
Sheesh...I was just using, not dealing. - 13/05/2010 03:47:05 PM 627 Views
The thrill of decadence? *NM* - 13/05/2010 03:51:21 PM 265 Views
Ooh...I'm sure THAT will shore up the eurozone... *laughs* - 13/05/2010 05:51:12 AM 681 Views
Agreed - 13/05/2010 12:20:12 PM 652 Views
Nobody said it would. - 13/05/2010 12:34:27 PM 658 Views
You know what will save the eurozone ? - 13/05/2010 04:55:06 PM 644 Views
You're a little ray of sunshine, aren't you? *NM* - 13/05/2010 05:10:48 PM 255 Views
Hey man, I don't want Europe to be the next Japan - 13/05/2010 05:42:26 PM 652 Views

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