The president of Estonia chewed out Paul Krugman on Wednesday, using Twitter to call the Nobel Prize-winning economist «smug, overbearing & patronizing,» in response to a short post on Estonia’s economic recovery.
Krugman’s 67-word entry, entitled “Estonian Rhapsody,” questioned the merits of using Estonia as a “poster child for austerity defenders.” He included a chart that, in his words, showed “significant but still incomplete recovery” after a deep economic slump, The Huffington Post reported.
President Toomas Hendrik Ilves responded to Krugman in a series of outraged tweets, taking offence to Krugman’s tone and writing that Krugman didn’t know what he was talking about.
“We’re just dumb & silly East Europeans. Unenlightened. Someday we too will understand,” he tweeted. “Guess a Nobel in trade means you can pontificate on fiscal matters & declare my country a “wasteland”. Must be a Princeton vs Columbia thing.”
Krugman has yet to reply to Hendrik’s harsh words.
Estonia, which in 2011 became the latest country to join the eurozone, has been heralded by some as an austerity success story. That year, it clocked a faster economic growth pace than any other country in the European Union, at 7.6 percent. Estonia is also the only EU member with a budget surplus, and had the lowest public debt in 2011 — 6 percent of GDP. Fitch affirmed its A+ credit rating last week.
The number of visitors in hotels and other accommodation establishments in Q1 of this year comprised 301.3 thousand people. That is 5.9% more than in Q1 of 2012.Of which 34.3% were residents of Latvia and 65.7% – foreign tourists. Previously share of visitors was similar.
In Q1 of 2013, compared to Q1 of 2012, the number of clients that chose voluntary car insurance (KASKO) doubled.
Latvian Education and Science Ministry (ESM) plans to allocate an additional 2.3 million LVL for salaries of school coaches.
In order to resolve the Liepājas metalurgs (LM) crisis, not only was Prudentia attracted without contest, but other specialists as well. Their attraction, which is expected to cost 100 000 LVL to the state budget, has been entrusted to Prudentia.
The state of Latvia annually loses up to 100 million LVL due to fuel contraband. This money could be potentially gained from excise tax on oil products, industry representatives note. According to them, the problem of fuel contraband is still notable in Latvia.
Latvia is a leader in the creation of a “New silk road”, which could be used after the end of the mission in Afghanistan, notes U.S. transportation command Commander Gen. William Fraser. He highly praised Latvia's contribution to the function of the Northern Distribution Network.
Moscow traffic police pay more attention to cars with foreign license plates because such vehicles are often used in crimes, according to the press office of the State Traffic Safety Inspectorate for Moscow.
Latvian residents overpaid a total of 12 million LVL when purchasing expensive compensated medications last year, as reported by the director of the National Health Service Maris Taube at the opening of the “Ārstējies nepārmaksājot” (Don't overpay for treatment) informative campaign.
Sales of the Galaxy S4 smartphone have reached 10 million in «record» time, Samsung announced on May 23.
Compared to March, the overall level of producer prices in Latvian industry in April 2013 increased by 0.1%. The producer prices of products sold on the domestic market rose by 1.1%, whereas prices of exported products reduced by 0.9%.
An 80-year-old Japanese mountaineer became the oldest person to reach the top of Mount Everest on Thursday — although his record may last only a few days. An 81-year-old Nepalese man, who held the previous record, plans his own ascent next week.
I deny the information that the whereabouts of the suspended director of the Customs Criminal Office of the State Revenue Service Vladimir Vaskevics are unknown, says his wife business woman Inara Vilkaste.
US car giant Ford Motor will shut all its Australian manufacturing plants by October 2016, after more than 85 years of making vehicles in the country.
Bomb disposal specialists of the Latvian National Armed Forces (LNAF) successfully neutralized the 500 kg aircraft bomb that was recently found in Ventspil port.
- Ilves: Estonia is a world power in IT
- Estonia's unemployment at 10.2% in Q1
- Slow-down in Estonia’s growth expected
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- Opinion: Estonians are selling their work too cheaply | 1
- Estonians to develop four office buildings in Vilnius for EUR 44m
- Global IT report ranks Estonia 22nd, Lithuania 32nd, Latvia 41st
- Violations uncovered in Estonian fur farm
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Ilmars @ 2013-05-24 15:10:12
and pensioners are being told that they cant have pension indexation because of LM . How many pensioners are going to vote for Unity in the coming municipal elections when they hear that Government money is being wasted on bankrupt companies . LM is not only bad economics , it is also bad politics .
JPR @ 2013-05-24 14:33:57
JPR @ 2013-05-24 14:32:34
Popov the russian clown @ 2013-05-24 14:27:54
JPR @ 2013-05-24 14:12:50