Only future investors and exporters win from devaluation (Eesti Päevaleht, in Estonian)

08 Jun 2009

Though some analysts wish to see the devaluation of the Estonian kroon, we have to question their motives. Who will win from it? The question is quite simple to answer – those who do not have Estonian kroons and plan to invest in Estonia in the near future.

Many experts have talked at length about devaluation. Spreading these stories could help make the process faster and the winnings bigger.

Veikko Maripuu thinks there are no conspiracies behind the current economic situation of the Baltic states. The reality is that everything depends on ourselves, whether we can make the necessary cuts or not, and whether the financial situation starts to improve in the coming years. If we cannot decide where to cut back then the next step, according to the experts, is devaluation. Many experts also say that we should improve our competitiveness, which is the main problem for Latvia and Estonia.

If we consider what could help us in the long run, then we should think about increasing exportation.

Read full article here.