Kaspar Oja, an economist at the Bank of Estonia, on August 10 stressed the importance of political action across the eurozone in aiding the recovery of economic growth in the country.

Estonia's economic development in the first half of 2012 has been "generally in line" with the central bank's forecast, Oja said. However, "the forecast relies on the assumption that euro area governments take steps to ease the crisis and the external environment will thus start to recover gradually in the second