Estonian euro may trigger upgrade, Moody’s, Fitch say

New euro states are likely to be less generous in accepting fiscal indiscretions from the bloc's older members, such as Greece, as they demand that the same stringent budget policies that they pushed through in order to join be enforced across the region, according to Katinka Barysch, chief economist at the London-based Centre for European Reform. "As more of these new member states join the single currency they will be very strict on the old member states," Barysch said in an interview with Bloomberg Television today. "The EU never did them any favours; they consolidated their budgets and now they look at Greece and they ask: why didn’t you do that?"