Saturday, June 16, 2012
Baltics 1 Socialist Europeans 0
Estonia is one of the few European countries that actually DID austerity. And apparently it DID work (as much as we can determine casualty in matters such as this). a) Their growth rate is currently 7.6%. b) They also have a budget surplus. c) Their debt to GDP ratio is a scant 6%. d) They currently have an A+ credit rating from Fitch. e) They're currently ranked 24th (2 slots ahead of Switzerland) in the "Ease of Doing Business" rankings of the World Bank. Now, is everything perfect in Estonia? Of course not. But when you compare it to the mess in England, France, Italy, Spain, and Greece, it looks like they're doing pretty damn good to me.