We have plotted a clear course in the European Union for strengthening Europe s digital sovereignty and laying down our own standards instead of copying others. The plan is to invest in ultra-high-speed internet links and develop super processing of big data to create innovative solutions for medicine, transport and the environment, Siim Kallas says in a speech delivered in the Riigikogu.
We are living challenging times. The EU has come face to face with several crises in the past decade. We had the financial crisis of 2008, the refugee crisis in 2015 and have been in an unprecedented healthcare and economic crisis brought on by the coronavirus since last spring. Every hurdle has required us to complement policies and render cooperation more effective.
Governor of the Bank of Estonia Madis Müller said on the Otse uudistemajast webcast that this year s economic growth could miss forecasts because of vaccination efforts progressing slowly. The new government aims to go over planned Recover Europe investments.
Müller said that while borrowing was sensible in the crisis, a long-term plan for covering expenses is needed now. It seemed sensible to us in the central bank to liven up the economy with various measures during the crisis, Müller said in terms of the previous government s fiscal decisions.
Müller is not critical of the previous government s fiscal policy, while he admitted that some differences of opinion concerned the long view and that crisis measures need to be temporary and solutions found to cut costs.