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Euro kills the Kroon


Registered Member
Estonia adopts euro

Estonia has now officially abandoned the Kroon, its sign of hope and change from Soviet rule to become latest EU country to adopt the Euro as it's currency.

For some here they see this change as a new beginning, a possibility to become more westernized, to fit in and be more accepted by the USA and much of Europe.

For most here, it is seen as more economic strain for Estonians, the Euro has had many problems in Europe, many countries have misused discipline in the Euro and require bailout from all other countries using the Euro, which will now include Estonia, the poorest member of the Euro zone...

I have mixed feelings for this, but in most part I agree the Euro will hurt Estonia's already unstable economic situations. Not only this, but I feel as though the government here tries very hard now to "fit in" with little concern for how these changes hurt Estonian's themselves. I do not see the Euro as progress but as regress.


Registered Member
The Euro is not a stable currency. Many countries in the Eurozone are considering abandoning the supranational currency for a new national one, in order to be less dependent on the spending habits of other Eurozone governments. It's time to drop the Euro. Britain and the Scandinavian monarchies had the right idea to stay away from it.
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Registered Member
Interesting that Estonia would adopt the Euro right now, considering all the troubles that currency is in at the moment ... I would have guessed the euro candidates would wait and see what happens, before joining.

But I don't think the euro is a weak currency. On the contrary, it's still pretty strong, and that's part of the problem (euro countries that are near bankruptcy suffer because of the euro's strength, because they cannot simply devaluate their currency in order to pay their debts via inflation). In fact, the euro is at around 1€ = 1.30$ US, which is a bit stronger than when it was introduced in 1999 (back then, one euro was 1.17$ US).

There is just the risk that the euro may not persist in the worst case, if the eurozone indeed collapses, and the stronger countries don't manage to aid the poor, almost bankrupt ones. But I don't think that's likely. Breaking apart the euro or leaving the eurozone is not in the interest of the larger countries -- allowing Ireland or Portugal to go bankrupt, or leaving the euro would be much more costy and much more dangerous than finding a solution in favor of a euro-wide economic policy and pooling resources. So it doesn't look likely at the moment Germany, the Netherlands, Austria or France would leave, or allow the "PIGS" to collapse.

But who knows ... but if I were Estonian President or Prime Minister, I'd probably have postponed the eurozone membership until the problems with Greece, Ireland and Portugal are solved.