Eurozone crisis catches up with Estonia

bank-of-estonia

The Bank of Estonia on Wednesday sounded the alarm over the encroaching troubles of the eurozone on its economy.

"The Estonian economy was growing faster than expected during the first three quarters of 2011," said the central bank. "Now the growth impetus is waning and uncertainties in the external environment are on the rise."

The central bank said developments in Estonia and in Europe depended on how problems in several euro-area sovereign bond markets are solved. As a result of this ongoing

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