Krugman Wrong to Argue Euro Is a Trap, Baltic Ministers Say
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The benefits of joining the euro outweigh any costs for rescuing members in crisis, finance ministers of the three Baltic nations said, rejecting economist Paul Krugman’s view that Europe’s common currency is a “trap.”
“Being members of the euro zone is not only a necessity for us, it’s a privilege,” Lithuanian Finance Minister Rimantas Sadzius told a news conference in the capital, Vilnius, with his Latvian and Estonian counterparts. “This organism is alive, with good prospects that have only improved as it has dealt with troubles” in countries like Cyprus.