Estonia’s vote for euro rescue only option

The Estonian parliament also voted in favour of boosting the euro rescue fund on Thursday. Web portal Delfi says it did the right thing:

“It’s too simplistic to describe the stability facility a ‘debility facility’ or to write if off with statements like:

‘Why should an Estonian with an average wage of 800 euros throw money at the Greeks?’. This way of thinking is inappropriate and above all typical of those who bear no responsibility for the economy. Of course it’s the Greeks’ own fault that their country is now on the brink of insolvency. The problem is that in a common economic and monetary zone there’s no ‘that’s their problem’ but only ‘that’s our problem’. If the crisis is left to take its course it will trigger a tsunami on the stock exchanges that would also reach Estonian shores – and our economy, which has only just started showing signs of growth again, certainly wouldn’t survive it.”

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