Financial markets no longer fear domino effect after Greece, Estonian analyst says ({{commentsTotal}})

Peeter Koppel
Peeter Koppel Source: Photo: Postimees/Scanpix

Financial markets no longer fear other Southern European states leaving the Eurozone in case of Greece's exit, says finance expert Peeter Koppel.

“Let's be honest here, South Europe has other nations which are too similar to Greece in this sense,” he told ETV's “Kahekõne” program, adding that Portugal, Spain, but also Italy and France could fall under that category.

He said a short while ago Europe's greatest fear was Greece leaving the Eurozone, and dragging other countries in the region along with it.

“Today Greece's case is clearly isolated,” he said.

Asked if the former Estonian foreign minister Jürgen Ligi could have helped Greece, Koppel said Ligi would have implemented some measures, but the important factor is the difference in culture. “Which is possible in Estonia, such as wide-spread salary cuts during a crisis, would not have been possible in Greece in the same format.”

Greece has recently been pushing for more breathing space on its bailout terms, something the EU, especially Germany, has shown little willingness to accommodate, sparking the thought that Greece could be on its way out of the currency area.

Estonian politicians have so far not warmed to the idea of relaxing rules for Greece, with Finance Minister Maris Lauri saying this week that the Eurozone would survive Greece's exit.

Editor: J.M. Laats

Siim Kallas.

Interview: Siim Kallas on ambitions, Estonian politics, and EU presidency

Following the local elections in October this year, Reform Party founder, former prime minister, EU commissioner, and presidential candidate Siim Kallas took on the job of municipal mayor of Viimsi, a community on the outskirts of Tallinn. In his interview with ERR's Toomas Sildam, Kallas talks about local government, his party, the EU presidency, and perspectives in Estonian politics.

ERR kasutab oma veebilehtedel http küpsiseid. Kasutame küpsiseid, et meelde jätta kasutajate eelistused meie sisu lehitsemisel ning kohandada ERRi veebilehti kasutaja huvidele vastavaks. Kolmandad osapooled, nagu sotsiaalmeedia veebilehed, võivad samuti lisada küpsiseid kasutaja brauserisse, kui meie lehtedele on manustatud sisu otse sotsiaalmeediast. Kui jätkate ilma oma lehitsemise seadeid muutmata, tähendab see, et nõustute kõikide ERRi internetilehekülgede küpsiste seadetega.
Hea lugeja, näeme et kasutate vanemat brauseri versiooni või vähelevinud brauserit.

Parema ja terviklikuma kasutajakogemuse tagamiseks soovitame alla laadida uusim versioon mõnest meie toetatud brauserist: