Estonia

July 2005 | Risk Summary

The government has fallen out with the European Commission over sugar policy and is planning to take the matter to the European Court of Justice (ECJ). In late May the Commission ruled that Estonia and four other countries including Latvia had built up excessive sugar stocks and said that they must eliminate these by end-November or face a fine, in Estonia's case amounting to about EUR45mn. The government now plans to approach the ECJ after the Commission rejected its argument that about 46% of sugar reserves are held by private individuals and not companies engaged in price speculation.

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