What crisis? The eurozone adds Estonia

"Joining the euro is a status issue for countries seeking to cement their position at Europe's top table," said Simon Tilford, the chief economist for the Centre for European Reform, a research organisation based in London. "But you also could call it sheer bloody-mindedness of Estonia to join now with the outlook for the currency so uncertain. … Investors will only be willing to lend to Estonia on favourable terms if Estonia can continue to compete … That is where the biggest risks for Estonia now lie."