On the November 2, the heads of the work groups, representatives of the Banking Association and Estonian Chamber of Commerce and Industry assured at the Euro Changeover Expert Committee's meeting in the Ministry of Finance that the preparations for exchange of currencies are on schedule.
Majority of the euro banknotes have arrived in Estonia by today and frontloading of euro cash to the banks and bank offices all over Estonia is in the process. All the ministries have confirmed that their IT systems are ready and tested for the changeover to euro.
“Now, when there is a little less than two months time for the changeover to euro, the main emphasis of the national preparations is on logistics of the currency exchange and informing the public,” said Tea Varrak, Head of the Euro Changeover Expert Committee.
“We are glad to see that showing the prices in two currencies has been improving month by month and the number of errors has decreased considerably compared to summer,” Varrak admitted. She added that the considerable number of the companies having joined the Fair Pricing Agreement is delightful as they contribute significantly to managing the unjustified price increase.
However, Varrak says that the committee is worried about the indifferent attitude of some small or average-size enterprises and service companies to the changeover to euro. “It is sad that there are still small enterprises and service companies who do not find fair pricing essential and prefer to unreasonably increase prices under the cover of changeover to euro,” said Varrak. “Hereby, we once again ask all the enterprises and service companies to follow the correct rounding-off principles as well as to join the Fair Pricing Agreement. We are prepared to help the companies via professional associations in any way we can,” Varrak said.
Ministry of Finance
Public Relations Department