Estonia to join the euro

Subject to approval and agreement, Estonia will join the eurozone on 1 January 2011. This is a testament to Estonia’s efforts, since it has managed to keep the deficit down, and public debt low, despite seeing an unprecedented 15% decline in nominal GDP in 2009. Public finances look like to be pretty well managed and secure. Unlike some countries which should have never been allowed to join the single currency in the past, Estonia fully deserves to be a part of the eurozone.