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Prominent economists voice their support

How are these guys prominent? Just because they occasionally get mentioned in the Estonian news makes them leaders? Reply to the comment answer
~???? [09.06.2012, 12:08]
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Look up Dan Mitchel and Anders Aslund. They are hardly lightweights. Reply to the comment answer
~@???? [09.06.2012, 13:13]
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I'm no fan of the Cato Institute since I find them to be as entrenched idealogues as many have accused Krugman of being, but they and the other economists HAVE responded to Krugman's post with reasonable counter-arguments. Would it really have been so difficult for Ilves to do the same? And note: the prominent economists have voiced their support FOR ESTONIA'S ECONOMIC POLICIES - not for the President's angry rant. Reply to the comment answer
~this is the way you are supposed to respond [09.06.2012, 15:49]
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If only there was a'debate.' Krugman gave a professional opinion and Ilves had a tantrum because he didn't like what Krugman said. Reply to the comment answer
~Tartu potato head [10.06.2012, 11:36]
Ilves always tends to get testy when he hears what he doesn't like, which is one reason I have always felt he was overrated as a statesman. Sure, anybody can give great speeches, but the real trick is when someone has different opinions, to bring them around to your way of thinking, not to snap at them. THAT's the mark of a true statesman, and IMO Ilves is not one.

Here's some quotes from an interview in 2008:


"Q:Estonia, it is commonly claimed, wants to be regarded a Nordic country. Still there are obvious and profound differences between Estonian and e.g. Norwegian welfare policies."

"Ilves: I am sorry to see that such outdated clichés are still spreading. I recommend a little homework in the future, or an examination of what is happening in Estonia"

"Q:As for Estonia's approach to the much-celebrated "liberal values" however, many paradoxes remain. For instance, the relationship with Russia and Russians seems to have been decisive in shaping Estonia's very restrictive immigration policy. According to the most recent UNHCR statistics [for 2004], there are not more than 11 refugees residing in Estonia (in Norway there's more than 40.000)

"Ilves: I am surprised that the comparison of the number of immigrants in the old welfare state of Norway and Estonia, which only joined the European Union and NATO a few years ago, seems paradoxical to you. "

Closing off with:

"In general I appreciate interviews where the interviewer puts a little more thought into his or her questions. "

It may be because a lot of the questions poke at Ilves' holy cow that Estonia is another Nordic country, but I'm sorry, but this guy comes across exactly as he describes Krugman: smug and patronizing.
~Don't make me angry, Mr Krugman. You wouldn't like me when I'm angry [10.06.2012, 15:34]
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Prior to admittance into the EU Estonia was deluged with a tremendous influx of Euros to rebuild its infrastructure and bring other programs up to par with EU Nations. This "Stimulus" heated up the Economy and thus began the gigantic spending spree by Estonians that got them into trouble, like all the PIIGS who also felt they had won the "LOTTO". Now, seemingly in a decent position it is easy to confabulate those gains by austerity measures only. Ask the lower classes, poor, structurally unemployed, pensioners, and others how they feel about the economy. I dare you. Whose got the money and advantage in Estonia as you look around at all the BMWs, Mercedes, giant homes, and Summer homes along the Coast. Not those living in preWW2 apartments and Soviet era walk-ups! Reply to the comment answer
~Ken [10.06.2012, 16:07]
It was cheap credit more than anything else that led to the property bubble here that brought down the local economy. Austerity is the right thing for Estonia right now to get people back a realistic level of spending and away from all the new clothes, cars, going out every weekend, two trips abroad a year, weekly nail bar runs, spas etc. People are forced to be more realistic now.
~Easy Loans [10.06.2012, 19:21]
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Apparently you are not one of the people who lost their job, had to sell their house, ended up long term unemploymed with 65euros a month, or were forced to abandon their families to work abroad. Also many people who didn't have anything to do with irresponsible behaviour suffer because of this crisis. And don't say that people should have seen it coming, if even those smart people in the Estonian goverment apparently had no idea that a bubble was forming. Reply to the comment answer
~Mark. [11.06.2012, 00:24]
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I am forever indbteed to you for this information. Reply to the comment answer
~Douglas [16.07.2012, 21:57]
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