Direct Speech, Economics, Estonia, EU – Baltic States, Financial Services

Toomas Hendrik Ilves meets with Danish Parliement members, 5.05.2012. Photo: president.ee

President Ilves met in Copenhagen with the speaker of the Danish Parliament, Mogens Lykketoft. During their conversation, President Ilves and Speaker Lykketoft briefly touched upon the issues of the European economic and financial crisis.

"Both Denmark and Estonia have pursued responsible budget policy for years and coped with setbacks. The euro is the currency in Estonia and the crown in Denmark. Instead of blaming the budgetary and economic difficulties of Europe on the euro, we should first investigate the reasons why some countries – whether they are using euro or not – are on the verge on bankruptcy while others are not. Estonia and Denmark, together with most of the other Baltic Sea region member states of the European Union, are an example to others of how to anticipating crises and adopt a speedy recovery process," told President Ilves.

In the evening, the President gave a longer speech about the future of Europe in the Danish parliament building, where he discussed the issue of the so-called new and old member states within the context of the credit crunch that has prevailed for four years.

"Of course, first of all we need to cope with the current financial crisis in Greece and in the other countries that face difficulties. However, in the medium term, we must discuss the principles for running Europe. I think that smart solutions, contributing high added value, are the only advantages of Europe in the future and, therefore, we need to contribute to innovation, education and free competition right now. Northern Europe could establish itself as a regional example," added Estonian President.

President Ilves met also with Hans Skov Christensen and Hans Brask, the Chairman of the Board and the CEO of the Baltic Development Forum, respectively, to discuss the current status of the Baltic Sea Strategy of the European Union and possible co-operation spheres.

The President returned to Estonia from his working visit to the Kingdom Tuesday night.