Estonia joined the euro zone as its newest member yesterday Saturday 1st January 2011.
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Estonia with a population of 1.3 million people became the 17th euro zone country at midnight, yesterday beginning a switch from the kroon, and was the first former Soviet state to adopt the euro. Let us hope that other previous Soviet states adopt the euro despite the critics and who knows maybe Moscow one day.
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Latvia and Lithuania hope to adopt the euro in 2014 and have also had their currencies pegged to the euro for years.
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There are advantages in joining the Euro for both business and the tourist industry as the Estonians will find out during 2011. How much of the Euro´s trouble been caused by currency speculators shorting the euro and the media giving overdue attention to this which causes fear?
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Lets us hope that the currency speculators get their fingers burnt and the media learn to be publish more responsible news this year. Currency Speculation is not new George Soros bringing the pound sterling to it´s knees in the early 1900´s making a lot of money for himself and causing the British people a lot of misery at the time.
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