Tartu University News
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“Stimulate!” sings Paul Krugman’s character in a tongue-in-cheek cantata about his spat with Estonia’s president over austerity. The Nobel Prize winner’s refrain is striking a chord with the nation’s citizens.
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AS Nordecon International , the second-biggest listed Baltic builder, won an order from the University of Tartu in Estonia to renovate the premises of the faculty of social sciences.
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Estonian Finance Minister Juergen Ligi, who didn’t make the shortlist for the country’s new representative to the European Central Bank’s governing council, said the central bank’s selection criteria is flawed.
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Estonia’s adoption of the euro may bolster a German-influenced faction on the European Central Bank’s Governing Council that’s pushing for more government austerity in member states, analysts said.
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Otsuka Holdings Co.’s experimental tuberculosis drug was effective against patients with infections resistant to older medications in a study, findings that may lead to the first new TB treatment in 40 years.
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A little more than a year ago, the Baltic country of Estonia adopted the euro at a time when the Greek crisis and the Irish, Spanish, Portuguese, and Italian crises, were exposing the common currency’s weaknesses.
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Estonia will probably pick Finance Minister Juergen Ligi, who managed record austerity measures, or Ardo Hansson, the World Bank’s chief economist for China, as its next member of the European Central Bank governing council.
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Estonia tomorrow becomes the first former Soviet republic to join the euro, putting at least a temporary cap on the currency bloc’s expansion as the sovereign debt crisis ripples through Europe.
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Finance Minister Juergen Ligi has been asked to seek the post of central bank governor when Andres Lipstok ’s term expires next June.
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Estonia celebrated its entry into the euro with a midnight fireworks display, shrugging off the sovereign debt crisis rippling through Europe to extend the currency block into the former Soviet Union for the first time.
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