Household Bail-Outs

September 2007 | Ratings Update

Household debt has risen quickly over the past few years and is now in excess of 43% of GDP. With little in the way of liquid financial assets, the exposure of Estonians to shocks to income, interest rates and house prices has increased. Financial insecurity, which is likely to increase as the economy slows, could potentially impact the political landscape. Getting in early, Edgar Savisaar, the leader of the main opposition party, the Centre Party, has called on the government to introduce a scheme to assist households that run into financial trouble and in particular to ensure that homes are

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