Estonia welcomes the invitation to eurozone

In the convergence report released today, the European Commission made a proposal to the EU finance ministers to invite Estonia to join the eurozone during their meeting in July.
17. 05. 2010
 

In the convergence report released today, the European Commission made a proposal to the EU finance ministers to invite Estonia to join the eurozone during their meeting in July. According to the report, Estonia sustainably fulfils all the measurable Maastricht criteria and has one of the strongest budget positions in the European Union. 
 
Estonian Minister of Finance Jürgen Ligi stated that today’s evaluation of Estonia’s economy and finances sets the stage for joining the euro zone. “Being a part of the eurozone will make Estonia more trustworthy and gives a strong boost to the Estonian economy. However, a conservative financial policy has always been and will be important to us in the future. I am glad that European Commission values Estonia’s choices during the crisis,” stated Ligi.
 
The European Commission presented a convergence report to the European Union finance ministers, Ecofin will discuss the proposition made by the European Commission and the European Central Bank on 8 June. Ecofin’s recommendations will then be discussed at the meeting of the European Council on 18 June. In June consultations with the European Parliament will also take place.
 
The final decision to invite Estonia to join the euro zone will be made on Ecofin on 13 July.
 
Read more about Estonia’s preparations and the transition to the euro from the official webpage: http://euro.eesti.ee