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Flights to Frankfurt

机译：飞往法兰克福的机票

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Champagne and flowers would seem the rational way for a club to welcome such a desirable applicant. Estonia, due to adopt the euro on January 1st 2007, is a rare economic star by the debt-drenched, slow-growing standards of the euro zone. Instead of national debt, the state has net assets equal to about 6% of GDP. Whereas growth in the euro area is well under 2%, Estonia's economy last quarter expanded at a cracking 9.9% annual rate. Estonia's ?10 billion ($12 billion) economy makes up just 0.1% of the euro zone's GDP. So it won't change the big picture. Nor will Lithuania and Slovenia, also due to adopt the euro in 2007. But such new members raise big questions about the merits and methods of expanding the euro zone. In old Europe, some Italians are openly questioning the decision to adopt the single currency. But the newcomers are convinced that joining makes sense. They will lose no flexibility: Estonia and Lithuania have currency boards; Slovenia's exchange rate is fixed. Joining will save money (running a separate currency is costly) and, most important, end the risk of speculative attack—a nasty business for a small open economy.
机译：香槟和鲜花似乎是俱乐部欢迎这种理想申请人的合理方式。爱沙尼亚定于2007年1月1日采用欧元，按债务紧缩，增长缓慢的欧元区标准，爱沙尼亚是罕见的经济明星。该州拥有的净资产约占GDP的6％，而不是国债。欧元区的增长远低于2％，而爱沙尼亚上个季度的经济以年均9.9％的惊人速度增长。爱沙尼亚的100亿欧元（合120亿美元）经济仅占欧元区GDP的0.1％。因此，它不会改变全局。立陶宛和斯洛文尼亚也不会在2007年采用欧元。但是，这些新成员国对扩大欧元区的优缺点和方法提出了很大的质疑。在旧欧洲，一些意大利人公开质疑采用单一货币的决定。但是新来者坚信加入是有道理的。他们将不会失去灵活性：爱沙尼亚和立陶宛拥有货币发行局；斯洛文尼亚的汇率是固定的。加入将节省金钱（运行单独的货币成本很高），最重要的是，消除了投机性攻击的风险-对于小型开放经济体而言这是令人讨厌的生意。

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