INTERVIEW-Estonian finmin sees more euro zone austerity

Published 11/19/2010, 11:08 AM
Updated 11/19/2010, 11:12 AM

TALLINN, Nov 19 (Reuters) - Estonia will maintain tight budgets when it joins the euro zone and expects more austerity measures to be needed in the single currency region's most indebted nations, its finance minister said on Friday.

Jurgen Ligi said the prospect of his country adopting the euro next year had boosted confidence in the whole of the crisis-hit Baltic region and expected this to eventually lead to an upsurge in lending by Nordic banks, which he said was vital for growth.

"A big part of the confidence in all these (Ireland, Spain, Portugal) countries is fiscal policy -- their loan burden and deficit. They have to have more austerity measures to (earn) confidence from the markets," he told Reuters in an interview.

(Editing by John Stonestreet)

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