Ülo Ennuste Economics

papers and articles in wordpress

Dear Edward

I am much obliged to you – Edward (Google translation from yloennuste.wordpress.com)

If only for your article – Edward Lucas: “If everyone were like Estonia, there would be no crisis” (Estonian newspaper “Postimees” 9.XII 11 p.14 in full).

Think of the wonderful E.L. writes about us in Estonia:

“You are really in a very good situation, because … you are in (the euro zone, UE). No decision can be taken without you and your business is both flexible and tough, that if everything goes wrong, can you quickly recover. “-

Especially the right to ” tough “- say that as the sole leather – and four times more flexible / thinner than the average Englishman beefsteak (net national income per capita was in 2010, four (sic) times higher than in Estonia. NB I use the net national income NNI as this is an indicator of the UK is in particularly prominent throughout the EU, and it is probably thanks to the City of London elite financial climate – low taxes).

And more importantly, E.L. is honestly manifesting that recent EU Council presidency is vague smokescreen “giving away the sovereignty” in the clear by saying by E.L. that :

“We’re in a terrible situation because we are accustomed to the current tax rate (eg in analogy for Estonia 0-level of profit taxes, UE). Imagine that the City of London runs at an extremely lucrative casino. “-

Imagine really for that Brussels would like to order the casino extremely high financial transactions, receipts should be fairly taxed (with the same terrible our government as we have the profits start to tax) to avoid macroeconomic imbalances throughout the common market and that is it does not have any intersections with sovereignty. What’s even more terrible that it should become done by Finance Minister Osborne – but then this government would fall – but if the UK does not move financial transactions to tax will be the Union’s agreement to new additions automatically based on the neck of the Brussels sanctions – that is politically the right is still in the politicians and press fuzzy that does not give away The Sovereignty of the UK and start to slam doors.

“We have a terrible situation …” – here E.L’ text should be extended to included in the Maastricht inflation criteria violation by the UK as by Estonia is in as dire a situation (by the way for financial institutions in the ears, it seems, high inflation and national debt large yields sound like the heavenly music) – but not as horrible as the euro zone in Estonia, as well as the EU context, it is in the Gini indicator as terrible as Greece (http : / / epp.eurostat.ec.europa.eu/tgm/web/_download/Eurostat_Table_tessi190HTMLDesc.htm), and not as terrible example of Estonia.

Even lovelier was E.L.’ message:

“… Estonian is in (euro zone, UE) and George Osborne should ask the Estonian Minister Jürgen Ligi to explain what is happening in the euro area.” –

the truth is not nice because the people of Ireland to explain anything – even more fun is that the article was probably by E.L. given to the Editor of the “Postimees” days before David Cameron started to slam the doors in Brussels and it seems it was known to E.L. that this meeting in Brussels has been planned as red herring, because the Commission had a plan “B” for the euro area for a long time back in pocket, and the now-enacted in the form (Regulation (EU) No 1174/2011 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 November 2011, the Enforcement measures to Macroeconomic too many correct imbalances in the euro area).

Eurostat – Tables, Graphs and Maps Interface (TGM)table download


December 11, 2011 - Posted by | Uncategorized

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: