Just in case anyone is interested, here is a video of me and Toomas Hendrik Ilves discussing Estonia after the euro. Part two is here and part three here
Tag Archive: euro
The grit shown by Estonian politicians and the public in shrinking spending, raising taxes and cutting wages has been exemplary. Punishing Estonia, which obeyed the rules, while bailing out Greece, which has breached them flagrantly, would do little for the euro’s credibility with governments and investors alike.
For anyone from the ex-communist world with a medium-term memory, the frantic efforts under way to save Greece (and the other wobbly southern members of the euro zone) are rather puzzling. For a start, what is so bad about default and restructuring?
Punishing Estonia which obeyed the rules, while bailing out Greece which has breached them flagrantly, would do little for the euro’s credibility with governments and investors alike.
It is never a waste of time to visit the capital of Galicia, which in Latin is called Leopolis (literally, Lion City). But you can waste a lot of time rowing about the name. In the Austro-Hungarian empire the city’s name was Lemberg. It was commonly known as that in the English-speaking world too (it is named thus in a Baedeker travel guide, belonging to your diarist’s great-aunt, who travelled in those parts more than a century ago).
In pre-war Poland it became Lwów (pronounced Ler-voof) and to this day many Poles still use that name. Indeed, they can get quite cross if you call it anything else. Even after the historical reconciliation with Lithuania and Ukraine in recent years, the loss, in 1945, of Poland’s eastern provinces, and particularly the great cities of Wilno (now Vilnius) and Lwów, still rankles…