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Bo Kragh: Estonia will lose financial independence after joining eurozone
Juhan Tere, BC, Tallinn, 15.10.2010.
Print version
Print versionWhen Estonia adopts the euro on January 1, 2011, it will lose financial independence, said adviser of the kroon reform, former Eesti Pank deputy president, Swedish financer Bo Kragh, LETA/National Broadcasting reports.
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| Bo Kragh. |
Bo Kragh said in an interview to the National Broadcasting that while the transition of the euro changes practically nothing for an ordinary Estonian inhabitant in the near future, the state will on January 1 lose completely the possibility of managing its own monetary policy.
If we think that the economic policy of every state is based on two feet: the state’s budgetary policy and monetary policy, then Estonia will have to learn how to stand on one foot, Kragh said.
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