Estonia has received the Final Confirmation to the Euro-Changeover

At today?s meeting of the Economic and Finance ministers of European Union, the decision and resolutions of the Council were approved and thereby confirmed Estonia?s adoption of the euro as of 1 January 2011.
14. 07. 2010

Council also confirmed the conversion rate from Estonian kroons to the euro. During the changeover Estonian kroons will be changed to euros at a rate of 1 euro = 15.6466 kroons, which means that the current exchange rate remains unchanged.

“Today’s decision is recognition of our joint efforts and of our fiscal policy. We are stepping into a euro zone whose economic bases are  under way to become stronger. The euro is very important for our economic recovery and for increasing our well-being. Now the state, local governments and businesses will continue with the practical preparation to ensure that the changeover to the euro goes as smoothly as possible,” commented Minister of Finance Jürgen Ligi.

In addition to the euro decision, the new Presidency of EU  - Belgium - presented its priorities: the most important are improving the co-ordination of economic policies and the ongoing reform of the financial sector. The European Commission also introduced proposals for implementing stricter budget policy monitoring than before.