In Estonia they are so familiar with the economic crisis, they have given it a nick-name: " Masu ", which comes from Majandus Krisis - Economic Crisis. Headlines are full of the latest doings of this wayward creature: the latest fall in retail sales, the steady slowing of lending, the gradual deceleration of the economy. The Masu is developing its own personality: rather like a bear, damaging and clumsy though, rather than rapacious. Today, however, the Masu is off the front pages and there is some better economic news: Estonia has joined the OECD , the Organisation of Economic Cooperation and Development. "So what?" many will ask, not knowing what the OECD actually is. The -now thirty-five member- body is essentially the club of wealthy and democratic states, committed to open government and open economies. For Estonia to be accepted as a member reflects a vote of confidence in the stability and prospects for the country. It also promotes them into a fairly exc...
Musings on World events from the perspective of a Social and an Economic Liberal.