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Euro is about to come and the Estonian society is worried about what is going to happen then. Dr. Robert Pefferly Jr., Associate Professor of Economics at Estonian Business School (EBS), spoke with Estonian Free Press to express his point of view and his analysis of the current situation.
What is your personal vision about the economical situation in Estonia during the last years?
What we just went through is a totally traditional classic bubble with prices fluctuating around a strange attractor based upon (real) fundamentals.
It is used to take about 20 years to repeat the cycle, now it seems to take approximately from 5-9 years to go through the entire cycle. The information technology revolution (now over 120 years old) seems to be increasing our cycle speeds too.

The National D-Day Memorial in Bedford, Virginia, near the Blue Ridge Mountains in southwestern Virginia, commemorated the 66th anniversary of the invasion of Normandy on Sunday, June 6.  Bedford was selected for the National D-Day memorial because the town suffered the greatest per capita loss of life of any U.S. town during the Normandy invasion during World War II. 
The memorial includes statues of western Allied leaders, including President Franklin D. Roosevelt, Prime Minister Winston Churchill and President Harry Truman.  Normally, a memorial honoring D-Day, when 66 years ago over 160,000 troops from the United States, Britain, France and Canada stormed the beaches of Normandy, would cause little consternation.  However, the memorial also includes a new statue – a bust of dictator Joseph Stalin - a source of considerable controversy.

On the morning of Thursday, June 10, representatives of embassies, ethnic organizations and groups, the Congress, and individuals gathered at the Victims of Communism Memorial at the intersection of New Jersey Ave. and Massachusetts Ave., NW, in Washington, DC, to commemorate the more than 100 million victims of communism. The Memorial was dedicated on June 12, 2007, by President George W. Bush, and is visited frequently by officials, diplomats, and individuals who wish to honor these victims.

There are usually disadvantages and various degrees of unpleasantness involved in showing up late to a party. It all depends on how late you arrive. Just an hour or two late, and the appetizers tray is either empty or you have to settle for slim pickins’. Several hours late, and you have two choices. You can once again discover how silly inebriated people are, which gets old quick, or you can boost your alcohol intake to catch up with the others. If you’re very late, arriving in the early morning hours, the house will likely be in disarray, and many partygoers will have left or nodded off on the sofa.

25 May (BNS) - Estonian Prime Minister Andrus Ansip and Deputy Speaker of the Chinese Parliament Jianmin Hua underlined that relations between Estonia and China are very good.
Ansip has been on visits to China on three occasions, twice as head of government and once as mayor of Tartu. "I have enjoyed every minute of my stays in China," Ansip said. Jianmin Hua is in Estonia for the second time.

(BNS) - On Saturday, May 15th, a fish market was opened in the immediate vicinity of the Old Town of Tallinn at the Fishery Port. For the time being it will be open on Saturdays from 10 a.m. to 4 p.m.

The city government said that the aim of the fish market was to offer fishermen an opportunity to market their fresh catch and to add another sight to the city. In addition to trading, it is also possible to take part in excursions, hear songs about the sea, and watch seamen's games and competitions.

14 May (BNS) - New social media mediums have been winning growing support among Estonian MPs and one third of them have Facebook accounts, Esto-nian parliament Speaker Ene Ergma said at a European Union parliament speakers' conference in Stockholm on May 14.

Ergma's speech at the conference was on the issue of new technologies and communication channels. She said that the Internet had given politicians the channel and the opportunity to distribute direct and unmediated information. As a result, the citizens had received the opportunity to take part in different stages of the decision-making process and to influence its results. Participation and involvement had become much faster and more widespread thanks to the new opportunities.

FM Review, May 6, - Meeting with executive secretary of the Preparatory Commission for the Comprehensive Nuclear-Test-Ban Treaty Organization (CTBTO) Tibor Toth in New York, Foreign Minister Urmas Paet said that Estonia supports the work of the CTBTO in building up a verification regime for nuclear testing.

Paet stated that an effective monitoring system helps to achieve security regarding the appropriate use of nuclear energy and nuclear testing. “Uniting the restriction of nuclear arms and the ban on nuclear testing is necessary to increase the nuclear safety of the world, but it must happen alongside global security measures with monitoring systems being made more effective,” said Paet. “Building up the system will hopefully give additional security to nations that have not yet joined the Nuclear Non-Proliferation Treaty (NPT). It is essential that the international community be provided with information on the peaceful uses of nuclear energy,” noted the Estonian foreign minister.

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