The news would have us believe that the Europe Union (EU) is on the brink of unraveling. I don't share that opinion of the dire outcome facing the 17 member union (of which Estonia is a member). The adults in Europe will figure it out. Over the past 2 months, Greece, Italy and Spain each have new conservative prime ministers who have all managed to get their austerity budgets passed and will work with their northern European partners to solve the problem of a currency union without a political union. Everyone involved has a stake in a successful resolution of structured debt, a stronger European Central Bank and even issuing of Europe Bonds.
The benefit to North Americans traveling there next summer will likely be a cheaper Euro and by extension cheaper air fares and local costs. We'll continue to monitor this but watch the Euro now at $1.34 per dollar.
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