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Äike
07-02-2010, 10:25 PM
S&P raises Estonia's credit rating on euro accession (http://balticbusinessnews.com/article/2010/06/10/S_P_raises_Estonia_s_credit_rating_on_euro_accessi on)


Estonia’s credit rating was raised at Standard & Poor’s as the country is poised to join the euro area in January. S&P raised its long-term foreign and local currency sovereign credit ratings on Estonia to A, the sixth-highest investment grade from A-. Short-term local and foreign currency sovereign credit ratings were raised to A-1 from A-2. The outlook is stable, S&P said today in a statement, according to a Bloomberg report.

Euro accession “should reduce exchange rate risk and improve Estonia’s access to European capital markets,” S&P said. “Estonia has, in our view, consistently demonstrated the economic, fiscal, and labor market flexibility required to cope with the constraints of being in a monetary union.”

Estonia won European Commission backing on May 12 to become the euro area’s 17th country after outperforming the bloc’s existing members on the Maastricht Treaty fiscal criteria. The nation had a budget deficit of 1.7 percent of gross domestic product last year and a debt-to-GDP ratio of 7.2 percent, the lowest in the European Union, the commission said May 5.

While Estonia’s government doesn’t have any outstanding bonds, investors trade credit default swaps on the country’s debt. Five-year Estonian CDS decreased one basis point to 128, according to CMA Datavision prices in London.

The Baltic state pushed through budget cuts equivalent to 9 percent of GDP last year to bring this year’s shortfall to 2.4 percent of economic output, outperforming all existing euro members, according to EU forecasts.

Moody’s, Fitch

Estonia can’t rely on euro membership to trigger a ratings upgrade and needs to demonstrate the economy is more export- oriented before its credit grade is raised, S&P analyst Frank Gill said May 14 in a response to Bloomberg questions.

Moody’s Investors Service and Fitch Ratings said May 12 that Estonia’s chances of an upgrade were boosted by the European Commission’s decision earlier that week to recommend euro accession for the Baltic nation.

Fitch “would expect” to upgrade its BBB+ rating for Estonia after a formal invitation to join the euro area, due on July 13, Fitch Head of Emerging Europe Ed Parker said May 12 in an e-mailed response to questions.

Moody’s rates Estonia’s long-term foreign-currency debt A1, and raised the outlook to stable on March 31.

poiuytrewq0987
07-02-2010, 10:28 PM
My user title.

Äike
07-02-2010, 10:33 PM
My user title.

Troll

poiuytrewq0987
07-03-2010, 04:28 AM
Troll

You're in the EU, ha-ha!

http://4.bp.blogspot.com/_1IG5houmW0Q/SL8tqi6EyvI/AAAAAAAAAJE/3zEfg_yyDlA/s320/simpsons_nelson_haha2.gif

http://thisfragiletent.files.wordpress.com/2009/02/israel-125year-old-man-laughing.jpg

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http://lauramcwilliams.files.wordpress.com/2009/10/laughing1.jpg

http://webpages.csus.edu/~kak85/laughing.gif

http://static.open.salon.com/files/bush-laughing1223057795.jpg

http://www.stolaf.edu/people/murphye/map%20project/woman%20laughing.JPG

http://lorimoon.files.wordpress.com/2009/04/two-women-laughing.jpg

Äike
07-03-2010, 09:37 AM
You're in the EU, ha-ha!

http://4.bp.blogspot.com/_1IG5houmW0Q/SL8tqi6EyvI/AAAAAAAAAJE/3zEfg_yyDlA/s320/simpsons_nelson_haha2.gif

http://thisfragiletent.files.wordpress.com/2009/02/israel-125year-old-man-laughing.jpg

http://riverdaughter.files.wordpress.com/2009/11/laughing_kitten.jpg

http://theb2xpress.files.wordpress.com/2009/05/clinton_laughing.jpg

http://bloggedyou.files.wordpress.com/2007/10/laugh_ha_ha.jpg

http://lauramcwilliams.files.wordpress.com/2009/10/laughing1.jpg

http://webpages.csus.edu/~kak85/laughing.gif

http://static.open.salon.com/files/bush-laughing1223057795.jpg

http://www.stolaf.edu/people/murphye/map%20project/woman%20laughing.JPG

http://lorimoon.files.wordpress.com/2009/04/two-women-laughing.jpg

If you're not in the EU, then you're either extremely rich(Norway, Switzerland) or very poor(you). Thus the joke is on you.

poiuytrewq0987
07-03-2010, 09:54 AM
If you're not in the EU, then you're either extremely rich(Norway, Switzerland) or very poor(you). Thus the joke is on you.

Do you think I care that we're a poor country? Not. ;)

Äike
07-03-2010, 09:58 AM
Do you think I care that we're a poor country? Not. ;)

Good for you... You laughing at the EU is the same as Zimbabwe laughing at the rest of the world.

poiuytrewq0987
07-03-2010, 10:04 AM
Good for you... You laughing at the EU is the same as Zimbabwe laughing at the rest of the world.

We may not be #1 in terms of finance but it hardly affects the living standards of Macedonians. We may not be able to buy the latest iPod or the newest Playstation but since when were those items important?

Also, to think we are poor as Zimbabwe, get real. Your GDP is not leaps and bounds ahead of ours. Your country has a GDP of $24 billion compared to our GDP of $18 billion oh whoopie dee doo!

Äike
07-03-2010, 10:15 AM
We may not be #1 in terms of finance but it hardly affects the living standards of Macedonians. We may not be able to buy the latest iPod or the newest Playstation but since when were those items important?

Poverty also causes bad healthcare and other problems. It's not about buying new iPods.


Also, to think we are poor as Zimbabwe, get real. Your GDP is not leaps and bounds ahead of ours. Your country has a GDP of $24 billion compared to our GDP of $18 billion oh whoopie dee doo!

I wasn't comparing the wealth of Zimbabwe and Macedonia, I was pointing out your funny logic.

Estonian GDP is 24 billion, Macedonian GDP is 18 billion and Ukrainian GDP is 302 billion! It's not the GDP what counts, it's the GDP per capita. I also remind you that Estonia has one of the smallest economies in the EU.

Now compare Estonia(GDP 18 billion), with Ukraine(GDP 302 billion!)
http://upload.wikimedia.org/wikipedia/commons/8/85/Europe-GDP-PPP-per-capita-map.png

poiuytrewq0987
07-03-2010, 10:19 AM
Poverty also causes bad healthcare and other problems. It's not about buying new iPods.

What poverty? The people here live just fine; the only people with problems are gypsies and drunks.


I wasn't comparing the wealth of Zimbabwe and Macedonia, I was pointing out your funny logic.

Estonian GDP is 24 billion, Macedonian GDP is 18 billion and Ukrainian GDP is 302 billion! It's not the GDP what counts, it's the GDP per capita. I also remind you that Estonia has one of the smallest economies in the EU.


Oh gee, Estonia has a GDP per capita of $17,000 and Macedonia of $9,000... yeah, huuuge difference there brah!

Your country's economy is not leaps and bounds ahead of ours... yours is just ahead.

poiuytrewq0987
07-04-2010, 06:51 AM
I think it's pretty funny how Pooh is trumpeting his country over others. When his country has only benefited under Swedish, Russian and German occupation. Whereas Macedonia was under harsh Ottoman occupation for nearly 500 years. The spread of Islam in the Balkans couldn't have been more polarizing, and it has indeed defined the course of the Balkan history (the war in Bosnia for instance, probably would've only took place between Serbs and Croats as Muslims would've been non-existent were it not for the Ottomans or it would've never happened at all). Estonia's economy performed quite admirably under the Soviets where its GDP per capita were above average compared to other Soviet republics.

And to compare recent history? Even our country has been much more turbulent compared to Estonia. The breakup of Yugoslavia couldn't have been more damaging to the Macedonian economy as it relied on free trade in the six republics and Socialist Yugoslavia's EEC trade agreements. The economic stagnation from economic embargoes on Federal Yugoslavia, an important trading parter of Macedonia, and an embargo on Macedonia by Greece. I think we can say this with utmost certainty, my country has been through a heck lot more than cute little isolated Estonia yet Estonia is not all that far ahead of my country... ;)

Äike
07-04-2010, 11:00 AM
I think it's pretty funny how Pooh is trumpeting his country over others. When his country has only benefited under Swedish, Russian and German occupation. Whereas Macedonia was under harsh Ottoman occupation for nearly 500 years. The spread of Islam in the Balkans couldn't have been more polarizing, and it has indeed defined the course of the Balkan history (the war in Bosnia for instance, probably would've only took place between Serbs and Croats as Muslims would've been non-existent were it not for the Ottomans or it would've never happened at all). Estonia's economy performed quite admirably under the Soviets where its GDP per capita were above average compared to other Soviet republics.

And to compare recent history? Even our country has been much more turbulent compared to Estonia. The breakup of Yugoslavia couldn't have been more damaging to the Macedonian economy as it relied on free trade in the six republics and Socialist Yugoslavia's EEC trade agreements. The economic stagnation from economic embargoes on Federal Yugoslavia, an important trading parter of Macedonia, and an embargo on Macedonia by Greece. I think we can say this with utmost certainty, my country has been through a heck lot more than cute little isolated Estonia yet Estonia is not all that far ahead of my country... ;)

Benefited under Russian and German rule... You belong to a mental institution. The only rule we benefited from was the Swedish rule.

Don't blame the past for the fact that your country is currently so poor. Estonia was at the same level as Moldova in 1991 and compare the two countries now. There's a visible difference between Estonia and the other ex-USSR countries. Must be because Estonia is the only post-communistic Nordic country.

poiuytrewq0987
07-04-2010, 11:07 AM
Benefited under Russian and German rule... You belong to a mental institution. The only rule we benefited from was the Swedish rule.

Estonia's economy developed under Soviet rule. To think that Estonia became poorer under Soviet rule is just untrue. Admittedly, the Soviet economic model was not the best but that doesn't mean Estonia's economy got worse but rather an unoptimized economic model was chosen.


Don't blame the past for the fact that your country is currently so poor. Estonia was at the same level as Moldova in 1991 and compare the two countries now. There's a visible difference between Estonia and the other ex-USSR countries. Must be because Estonia is the only post-communistic Nordic country.

You're just flat out lying right now. Estonia's GDP per capita in 1991 was $10,000 compared to Moldova's $2,000 in 2010. In the last 19 years, Estonia's GDP per capita only increased by $7,000. That's not very impressive all things considered.

Äike
07-04-2010, 11:25 AM
Estonia's economy developed under Soviet rule. To think that Estonia became poorer under Soviet rule is just untrue. Admittedly, the Soviet economic model was not the best but that doesn't mean Estonia's economy got worse but rather an unoptimized economic model was chosen.

Estonia was richer than Finland before WW2, now look at Estonia and Finland.



You're just flat out lying right now. Estonia's GDP per capita in 1991 was $10,000 compared to Moldova's $2,000 in 2010. In the last 19 years, Estonia's GDP per capita only increased by $7,000. That's not very impressive all things considered.

It's not all about GDP. I have a history book about the 90's in my book case and I could quote the chapter which says that Estonia wasn't in a better situation than Moldova.

Also saying that 17 908(2010) = 17 000 is trolling.

Estonia GDP was $ 18 800 per capita in 2009, 21 700 in 2008 and 22 400 in 2007.

Estonia is ranked 2nd in economy sustainability, in a few years we will surpass our 2007 GDP level. The EU predicts that Estonia will have the fastest growing economy in 2011.

You have complexes towards countries which have worked themselves up from nothing.

A guy from Macedonia lecturing me about economy and saying how I have to thank the USSR for the success of Estonia... You're a comedian.

There's a good book about the Estonian economic wonder in the 90's, you should read it. Sadly, it's only available in German and Estonian.

Das estnische Wirtschaftswunder
http://www.apollo.ee/images/books/r11/dasestnische.jpg

poiuytrewq0987
07-04-2010, 11:35 AM
Estonia was richer than Finland before WW2, now look at Estonia and Finland.

Ok?


It's not all about GDP. I have a history book about the 90's in my book case and I could quote the chapter which says that Estonia wasn't in a better situation than Moldova.


A history book written by biased Estonians, riight. The fact at hand is that while Estonia's economy didn't develop as quickly as it could under Soviet rule but it developed regardless, that's fact.


Also saying that 17 908(2010) = 17 000 is trolling.

Oh no, $900! :cry: You have an obsession with the term "trolling", go do your mom or something.


Estonia GDP was $ 18 800 per capita in 2009, 21 700 in 2008 and 22 400 in 2007.

Estonia is ranked 2nd in economy sustainability, in a few years we will surpass our 2007 GDP level. The EU predicts that Estonia will have the fastest growing economy in 2011.

Are you kidding me? Estonian economy contracted by 9% last year!!! Predictions are only predictions; no one predicted the 2008 economic crisis yet it happened.


You have complexes towards countries which have worked themselves up from nothing.

Because I have an opinion, I have a complex? You're funny.


A guy from Macedonia lecturing me about economy and saying how I have to thank the USSR for the success of Estonia... You're a comedian.


Location is irrelevant, the basic economic fundamentals applies everywhere.


There's a good book about the Estonian economic wonder in the 90's, you should read it. Sadly, it's only available in German and Estonian.

Das estnische Wirtschaftswunder
http://www.apollo.ee/images/books/r11/dasestnische.jpg

Cool story brah, that's nice for you to have developed your economy uninterrupted. Do remember that economic miracles only occur in times when a country isn't being embargoed, regional trade undergoing contractions due to war, etc etc.

Äike
07-04-2010, 11:39 AM
Ok?


A history book written by biased Estonians, riight. The fact at hand is that while Estonia's economy didn't develop as quickly as it could under Soviet rule but it developed regardless, that's fact.


Oh no, $900! :cry: You have an obsession with the term "trolling", go do your mom or something.



Are you kidding me? Estonian economy contracted by 9% last year!!! Predictions are only predictions; no one predicted the 2008 economic crisis yet it happened.



Because I have an opinion, I have a complex? You're funny.


Location is irrelevant, the basic economic fundamentals applies everywhere.



Cool story brah, that's nice for you to have developed your economy uninterrupted. Do remember that economic miracles only occur in times when a country isn't being embargoed, regional trade undergoing contractions due to war, etc etc.

Please stop trolling all the threads about Estonia in the economics and Eesti sections.

poiuytrewq0987
07-04-2010, 11:40 AM
Please stop trolling all the threads about Estonia in the economics and Eesti sections.

What's inconvenient for you is trolling. :)

Äike
07-04-2010, 11:44 AM
What's inconvenient for you is trolling. :)

I like discussions, but you trolled several threads in the Economics section.

This is trolling:

I hope the Euro crashes and burn, I sure would love to see the dollar back on the top again.

poiuytrewq0987
07-04-2010, 11:54 AM
I like discussions, but you trolled several threads in the Economics section.

This is trolling:

Oh really? Well, you're obviously stupid because I do desire to see the euro crash.

nisse
07-04-2010, 01:18 PM
Oh really? Well, you're obviously stupid because I do desire to see the euro crash.

That's natural enough, but why do you want the dollar back on top? :confused:

To comment on Moldova and Estonia - the disparity in their economic progress after the fall of the USSR can also partially be attributed to their different geographical possitions which give them access to different markets - Moldova can't easily trade with western european countries, unlike Estonia.

...also, it's sort of true that even in poor countries people don't seem to be poor - in Ukraine people live just fine, I didn't get the impression that people were poor in the cities where I visited. I don't get how that's possible, may be all the rural dwellers are dirt poor to make up for the relatively comfortable living conditions in the cities, or may be there is drastic regional variation.

...I think Hip trolls these threads because there are so many of them and there's really not much people can say other then "good job" :embarrassed.

poiuytrewq0987
07-04-2010, 01:26 PM
That's natural enough, but why do you want the dollar back on top? :confused:

Firstly, I don't believe in the idea of the European Union (whereas it should have remained the EEC not evolved into the monster that is the EU). Secondly, my financial reserves are in US dollars, not in gayuros. ;) :P



To comment on Moldova and Estonia - the disparity in their economic progress after the fall of the USSR can also partially be attributed to their different geographical possitions which give them access to different markets - Moldova can't easily trade with western european countries, unlike Estonia.

Yes, indeed. It's also not helpful that Moldova is divided politically from Romania and there's the whole Transwhatyoucallit secessionist state to deal with.


...also, it's sort of true that even in poor countries people don't seem to be poor - in Ukraine people live just fine, I didn't get the impression that people were poor in the cities where I visited. I don't get how that's possible, may be all the rural dwellers are dirt poor to make up for the relatively comfortable living conditions in the cities, or may be there is drastic regional variation.

In the West, it's a must that you buy the latest iPod or the newest model of Playstation or you're viewed as unhip, poor or whatever. Over here, we don't have a consumer society and people live quite well although I'm pretty sure that such society will develop as people can afford more unnecessary luxuries but we make do via social events which are much more fun than staying at home and watch movies on your home theater set.


...I think Hip trolls these threads because there are so many of them and there's really not much people can say other then "good job" :embarrassed.

lol.

nisse
07-04-2010, 01:37 PM
Firstly, I don't believe in the idea of the European Union (whereas it should have remained the EEC not evolved into the monster that is the EU). Secondly, my financial reserves are in US dollars, not in gayuros. ;) :P
Ah, so purely selfish considerations for wanting the dollar back on top :D. I'm an idealist and want both of those currencies out.


In the West, it's a must that you buy the latest iPod or the newest model of Playstation or you're viewed as unhip, poor or whatever. Over here, we don't have a consumer society and people live quite well although I'm pretty sure that such society will develop as people can afford more unnecessary luxuries but we make do via social events which are much more fun than staying at home and watch movies on your home theater set.
That's one of the things I was surprised by in Ukraine - everyone had an iPod and was actively trying to buy an iPhone...I boycot Apple products here, so I was very upset by the fact that people were expecting me to explain why I don't have an Apple product dangling off every arm just because I can afford to....clearly, you guys have it better.

Äike
07-04-2010, 04:40 PM
Apple products are for women and metrosexuals... If I would want a "stylish" phone then I would have bought the iPhone 3GS a year ago, but I bought the Nokia N97. The Nokia N97, isn't stylish at all(it looks like a brick, lol), but it's even better than the new Iphone 4.