A "Portuguese" or an "Irish" future for Estonia?

According to a study published by the International Monetary Fund (IMF) the Baltic States are making rapid economic progress and may soon bring up the economic rear in the EU together with Portugal. However, the chances of them experiencing a long-term boom like that in Ireland are also not bad, the report concludes. The Estonian paper asks if Ireland can really serve as a role model for Estonia. "The general euphoria has also given way to a certain degree of scepticism among the Estonian people about how sustainable our economic growth really is. Even so, comparisons with Portugal are not really appropriate, nor can Ireland really serve as a role model. There can be no doubt that the Irish model is a sure bet because in Ireland there is a consensus between employers and employees about suitable outline agreements. However, we must bear in mind that Ireland took the first important steps towards boosting its industry a quarter of a century ago. It sounds like a cliché, but for Estonia, the only alternative is a science and research-based economy. Portugal, on the other hand, has the red lantern in the EU because of its low level of education, which is markedly higher in Estonia."

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