{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Preps, reax as Estonia set to join eurozone' data-url='/boclips/videos/5c54ba86d8eafeecae11e28a' data-video-url='/boclips/videos/5c54ba86d8eafeecae11e28a' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nPreps, reax as Estonia set to join eurozone\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eTallinn, Estonia - December 30, 20101. Wide of Tallinn under snow2. Various of anti-euro posters3. SOUNDBITE (English) Vox pop, Raul Vall, Tallinn resident:\"I think it's good because it helps to recover our community and I think it's...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e1. Wide of Tallinn under snow\u003cbr/\u003e2. Various of anti-euro posters\u003cbr/\u003e3. SOUNDBITE (English) Vox pop, Raul Vall, Tallinn resident:\u003cbr/\u003e\"I think it's good because it helps to recover our community and I think it's better for Estonia also.\"\u003cbr/\u003e4. People standing by anti-euro poster reading (Estonian/English): \"Estonia! Welcome to the Titanic\"\u003cbr/\u003e5. SOUNDBITE (Russian) Vox pop, Eugenia Morudenko, Tallinn resident:\u003cbr/\u003e\"We don't want to transfer to the euro because it will make it harder for people to live. People are not used to the euro and a lot of people do not want to transfer to the euro.\"\u003cbr/\u003e6. Poster reading (English): \"Stop Euro\"\u003cbr/\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e7. Exterior of shop\u003cbr/\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e8. Mid of automated teller machine (ATM)\u003cbr/\u003e9. Sign on ATM reading (english, Russian and Estonian) \"closed\"\u003cbr/\u003e10. Various of armed police taking euros to bank safe\u003cbr/\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e11. Armed police standing guard outside shop as euros are delivered\u003cbr/\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e12. Police looking at bank safe\u003cbr/\u003e13. Salesperson handling Estonian kroons\u003cbr/\u003e14. Mid of supermarket checkout\u003cbr/\u003e15. Supermarket sign showing price in euros and Estonian kroons\u003cbr/\u003e16. Price sign next to goods\u003cbr/\u003e17. SOUNDBITE (English) Erkki Erilaid, shop manager:\u003cbr/\u003e\"We started this money exchange process already in June of this year. After that, in July, we changed our price tags. We are now both currencies prices - in kroons and in euros - so everybody, our clients recognise this new money. So we're getting used to it and now we know what the price is in euros and kroons.\"\u003cbr/\u003eTallinn, Estonia - December 30, 2010\u003cbr/\u003e18. Various of police delivering euros to an ATM\u003cbr/\u003eVilnius, Lithuania - December 29, 2010\u003cbr/\u003e19. Wide of city \u003cbr/\u003e20. People walking past Bank of Lithuania building\u003cbr/\u003eVilnius, Lithuania - December 29, 2010\u003cbr/\u003e21. Set-up shot of Raimundas Kuodys, Director of Economics Department, Bank of Lithuania\u003cbr/\u003e22. Euro coins on map of Baltic states \u003cbr/\u003e23. SOUNDBITE (English) Raimundas Kuodys, Director of Economics Department, Bank of Lithuania:\u003cbr/\u003e\"I think the main difference is the lack of fiscal culture here in Lithuania, and the very strong fiscal discipline in Estonia. And Lithuania had its chance back in 2006 but we missed it by a whisker, the inflation criterion was not met. But Estonia continued with its strong fiscal policies and despite the global slowdown recently they somehow managed to meet all the criteria and that's the main difference I think.\" \u003cbr/\u003e24. Wide interior of supermarket\u003cbr/\u003e25. Cashier pricing goods at checkout \u003cbr/\u003e26. Cashier handling Lithuanian litas \u003cbr/\u003e27. Wide of checkout\u003cbr/\u003eDespite a difficult year for the euro, the tiny Baltic nation of Estonia will be joining the single currency club as the champagne corks pop at midnight on New Year's Eve.\u003cbr/\u003eEstonia will become the eurozone's 17th member and instantly claim the mantle of the poorest as well as one of the smallest - representing just over one-tenth of a percent of the bloc's 12.5 (t) trillion (US dollar) economy.\u003cbr/\u003eBut Estonia's membership carries symbolic value, it is hoped, demonstrating that Europe's grandest financial project remains an appetising prospect despite the worst crisis in its 12-year history.\u003cbr/\u003eEstonia is even vowing to lend a hand, no matter how small, to other members in need. \u003cbr/\u003eFinance Minister Jurgen Ligi said recently that the Baltic state would soon start negotiations with the European Union on granting a loan guarantee of up to 130 (m) million euro (174 (m) million US dollars) to bailed-out Ireland - a major commitment for a nation with a state budget of only six (b) billion euro (8 (b) billion US dollars).\u003cbr/\u003eIn November, Ireland became the second eurozone country, after Greece, to require emergency support from its partners in the European Union and the International Monetary Fund to avoid effective bankruptcy.\u003cbr/\u003eThe worry, particularly in the bond markets, is that other countries will get sucked into the mire - Portugal and Spain are widely considered to be the most endangered eurozone countries with both grappling with their hefty debt burdens.\u003cbr/\u003eAnti-euro posters in the Estonian capital Tallinn are evidence that many people are not happy about joining the single currency in the current turmoil.\u003cbr/\u003ePolls show support for adopting the euro has dropped to just above 50 percent from nearly 60 percent at its highest. \u003cbr/\u003eMany believe prices will go up, like they did in other members that joined the bloc.\u003cbr/\u003eBut a large part of Estonian society regards the common currency as the culmination of 20 years of western integration that began after the country achieved independence in 1991 and despite the traumas experienced in 2010, there are many who still trumpet the economic benefits that come from joining the euro club.\u003cbr/\u003eFor many Estonians, the pursuit of closer European integration acquired a greater urgency three years ago after key websites in the country came under a cyber-attack orchestrated in Russia - an event that followed the removal of a Soviet war memorial from downtown Tallinn.\u003cbr/\u003eAs a result, Estonians re-experienced the very vulnerabilities that led them to closer cooperation with the West in the first place.\u003cbr/\u003eBy European standards, Estonia is a poor country. \u003cbr/\u003eThe average monthly salary was 760 euro (995 US dollars) in the third quarter of this year, while unemployment is 15.5 percent, compared with an average of 10.1 percent in the euro area. \u003cbr/\u003eAnd last year the economy saw its worst fall ever, with output plummeting nearly 14 percent - one of the steepest falls in the 27-member EU.\u003cbr/\u003eA handful of economists argue that given such disparity with developed euro area members, Estonia should refrain from joining and instead concentrate on catching up by running deficits - something that the euro rules theoretically prohibit.\u003cbr/\u003eEstonia's economy - known for its embrace of innovation and new technologies - is emerging from the crisis. \u003cbr/\u003eThird-quarter growth was five percent year-on-year, largely thanks to a surge in exports, while the International Monetary Fund forecast next year's growth to be four percent. \u003cbr/\u003eOn the downside, inflation is likely to increase next year, while the IMF says that no major inroads against joblessness will be made due to \"mismatched skills and low labor mobility\" among job seekers.\u003cbr/\u003eDespite that, Estonians and foreign businessmen take some consolation from the fact that it is generally perceived as the most successful of the Baltic trio.\u003cbr/\u003eLatvia and Lithuania have said they seek to adopt the euro in 2014 - another sign that the euro dream remains alive.\u003cbr/\u003eRaimundas Kuodys of the Bank of Lithuania said Estonia's admission to the euro club is a reward for its \"very strong fiscal discipline\".\u003cbr/\u003e\"Lithuania had its chance back in 2006 but we missed it by a whisker, the inflation criterion was not met. 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