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Äike
08-12-2010, 05:26 PM
Half of residents of Estonia in favour of the euro (http://balticbusinessnews.com/article/2010/08/09/Half_of_residents_of_Estonia_in_favour_of_the_euro )

A new survey by Faktum & Ariko shows that only 52% of residents of Estonia are in favour of the country adopting the euro. The percentage of euro supporters among the Russians living in Estonia was only 32%.

However, the support to the euro is somewhat higher than in November 2009 when a similar survey with exactly the same questions was conducted by Emor. At that time, only 47% of the residents of Estonia and 23% of Russians living in Estonia supported Estonia's membership in the eurozone.

The new survey showed that the higher the respondent's income and education level, the more likely the person was to support the currency change. Support was also higher in larger towns.

Overall, about 75% of the respondents expected prices to increase generally as a result of the euro changeover. In all respondent groups, at least 70% of the respondents in the given group expect prices to increase.

89% of the respondents felt that they were adequately informed of the euro changeover. 85% of the respondents were able to mention the accurate exchange rate for the conversion, while 79% were aware that there was a one-year period when all prices had to be shown in parallel currencies. 85% were aware that unlimited amount of kroons can be exchanged for euros.

Faktum & Ariko interviewed 500 people.

Osweo
08-12-2010, 06:37 PM
How does that match your impression of the attitudes of those you know personally, Karl?

Äike
08-12-2010, 06:49 PM
How does that match your impression of the attitudes of those you know personally, Karl?

Most favor the euro and see it as something which was to be adopted, as we joined the EU in 2004. Although a lot of people say that they will miss the beautiful Estonian currency. Euro notes are quite ugly when compared to Estonian ones.

From an economical point of view, a currency used in 16 countries is better than a currency used in a country with only 1.3 million people.

Monolith
08-12-2010, 08:21 PM
From an economical point of view, a currency used in 16 countries is better than a currency used in a country with only 1.3 million people.
You think so? It has its pros and cons, though the latter can be much more detrimental for a small economy (or for any economy for that matter).

E.g. firms based in Estonia will no longer experience drain of funds due to different exchange rates, but your economy will be even more strongly tied to the rest of the EU, and you will be left without the possibility of defending your standard of living through a monetary policy. This means that whatever happens to the Eurozone, your country will almost certainly follow suit.

It's a gamble. I hope it turns out good for you. :)

Äike
08-12-2010, 08:28 PM
You think so? It has its pros and cons, though the latter can be much more detrimental for a small economy (or for any economy for that matter).

E.g. firms based in Estonia will no longer experience drain of funds due to different exchange rates, but your economy will be even more strongly tied to the rest of the EU, and you will be left without the possibility of defending your standard of living through a monetary policy. This means that whatever happens to the Eurozone, your country will almost certainly follow suit.

It's a gamble. I hope it turns out good for you. :)

The Estonian kroon has a fixed rate towards the euro. If the value of the euro drops by 500%, then so does the value of the kroon. I have said this on The Apricity, at least a dozen times.

With the current situation, when the Estonian kroon is pegged to the euro, adopting the euro is the best solution from an economic viewpoint. The Estonian kroon was pegged to the German Mark before Germany adopted the euro.

The Lawspeaker
08-12-2010, 08:52 PM
Keep your kroon, Lenna. I bet that there are a lot of people here that long back for the good old D-mark, markka, franc, lire, schilling, gulden or Irish pound..

Äike
08-12-2010, 08:57 PM
Keep your kroon, Lenna. I bet that there are a lot of people here that long back for the good old D-mark, markka, franc, lire, schilling, gulden or Irish pound..

Our currency is superb, but the people decided already in 2004, by joining the EU. By voting yes in 2004, we have to adopt the euro and anyone saying that it isn't economically useful, should read some of the recent threads I have posted. ;)

Like this one:

Editorial: first wave of investors is here (http://www.theapricity.com/forum/showthread.php?t=18121)

The Lawspeaker
08-12-2010, 08:59 PM
At least you people had a vote on it. Our politicians squandered our beautiful, solid currency for the Euro.

Monolith
08-12-2010, 09:02 PM
The Estonian kroon has a fixed rate towards the euro. If the value of the euro drops by 500%, then so does the value of the kroon. I have said this on The Apricity, at least a dozen times.

Sure, but having a fixed exchange rate doesn't mean your currency must have the same exchange rates until the end of times. You can always stabilize (or fix) your currency at another level, despite the fact it's fixed towards the Euro, precisely because your central bank still has the power to devalue or revalue the kroon, via increasing or decreasing the monetary mass.

Sorry, I am not able to read all the posts here at The Apricity.