Mart Laar: delay with eurozone entry cost Estonia dearly

Former Prime Minister Mart Laar believes that the government’s decision not to enter the eurozone in 2007 had a high price for Estonia.

Laar who attended a TV show for former PMs said that the mistake was to consider that economic growth was more important than reducing inflation and ensuring that Estonia is accepted to the eurozone.

Speaking of the future, Laar said that he expected problems to pile up. “If the government earnestly wants to achieve eurozone-capacity by 2011, it will be very painful.”

Also another PM and current vice president of the European Commission Siim Kallas admitted that Estonia was very close to entering the eurozone in 2007 and that it was a mistake not to push for it.

“I have always been in favour of speeding up the eurozone entry, but a question is what the government could have done at those times when Estonia still have a budget surplus,” said Kallas.

Third former PM Juhan Parts said that the eurozone issue is a huge political topic, but suggested to focus more on the future instead of analyzing mistakes made in the past.

Source: BBN

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