Former Estonian Champion May Bolster ECB’s German Camp

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.

Andres Lipstok, Estonia’s central bank governor and a former fencing champion, became a voting member of the ECB council when the Baltic nation joined Europe’s currency bloc on Jan. 1. Since winning independence from the Soviet Union in 1991, Estonia’s tight control on spending has given it the lowest level of government debt in the 27-member European Union and the second-smallest budget deficit in the euro zone.