Final Approval For Euro

On July 13, European Union finance ministers gave Estonia final approval to become the 17th member of the eurozone as of January 1, 2011, with the conversion exchange rate for the Estonian kroon to the euro set at the current peg of EEK15.65/EUR. The decision will be viewed as a major political victory for Estonia and the coalition government in particular, which has been alone among Baltic states to successfully push through an austerity programme amid the regional recession.

To read the full article, please choose one of the following options: