How much better is Estonia doing?
Sixteen months after it joined the eurozone, Estonia is booming. The economy grew 7.6% last year, five times the eurozone average.
Estonia is the only eurozone country with a budget surplus. National debt is just 6% of GDP, compared to 81% in virtuous Germany, or 165% in Greece.
Shoppers throng Nordic design shops and cool new restaurants in Tallinn, the medieval capital, and cutting-edge tech firms complain they can’t find people to fill their job vacancies.
It all seems a long way from the gloom elsewhere in Europe.