A Big Step For Rail Baltica
This article on Railway Gazette is entitled Rail Baltica procurement agreement signed.
Rail Baltica is a large project to create a standard gauge railway from Tallinn in Estonia to Bialiystok in Poland via Riga in Latvia and Kaunus in Lithuania.
One extra part of the plan is to build a rail tunnel between Helsinki and Tallinn, to connect Finland to the European railway network.
This Google Map shows the Gulf of Finland.
The Gulf Of Finland
Helsinki and Taillinn are in the West on the North and South coasts respectively, with St. Petersburg in the East.
I would think, that a Taillinn to Helsinki Tunnel, would be feasible, but at probably sixty kilometres it would be the longest undersea tunnel in the world.
Now that the various parties have agreed to proceed, we might see some progress on building the main route from Tailinn to Bialystok, which hopefully will be finished in 2025.
Peer-to-Peer Lending In Estonia
My Zopa alert found this article from a website called European Voice.
It gives this view on Estonian banking.
Banking is the economy’s biggest weakness. It offers stingy, fee-ridden savings products and over-priced loans with nasty hidden costs. Intermediaries gain colossal profits, especially when they are greedy and reckless. When things go wrong, as they inevitably do, the taxpayer picks up the bill. Apart from that, it works fine.
It then goes on to show how things are changing through a company called Isepankur.
The writer has in fact invested some of his savings, by loaning to Estonian borrowers. This is his experience so far.
My net average return (like most Isepankur lenders) is about 17%. I have so far lent €1,570 to about 50 borrowers, in amounts ranging from €5 to €25. I have received €60 back in repaid capital and €24 in interest. I also got €0.06 in ‘penalties’ (my share in a small fine levied on a borrower called ‘Lillekas’ who paid a few days late).
I don’t think it will be many years, before the peer-to-peer lenders are available in many countries.
Who’d be a retail banker?
The Anonymous Widower 