OK, it's true that by some metrics (government debt for example), Estonia is doing pretty well. But Estonia's private sector debt (personal loans) is still over

OK, it's true that by some metrics (government debt for example), Estonia is doing pretty well. But Estonia's private sector debt (personal loans) is still over the top and is actually killing the workforce right now. Because of these loans, the wages aren't rising, even though the cost of living is thanks to joining the euro zone. http://statistikaamet.wordpress.com/2011/05/27/eestist-valjaranne-hoogustus-2010-aastal/ http://statistikaamet.wordpress.com/2011/05/27/eestist-valja... (Estonia's department of statistics blog) has statistics about the year 2010, where the graph shows the most dominant age group of emigrants are men in the age of 25-29 and most people leave the country because of high unemployment. That's men and women leaving in their best working age, most of whom will never return. So, yeah, Estonia might be doing fine by some short-term metrics, but in the long term austerity measures have done irreparable harm.