Estonia Prepares to Join the Euro Zone

January 4, 2011 at 2:58 pm

When the tiny Baltic nation of Estonia rings in the new year, it will become the latest addition to the euro zone—and the poorest member of a currency bloc that is struggling to restore financial stability. Larger and richer Central and Eastern European nations, once eager to gain entry into a prestigious club, have turned skittish about adopting the euro, which they increasingly see as a potential liability.

Central bankers and government officials in Poland and the Czech Republic have said that, given the turbulence among the euro zone’s current 16 nations, it is hard to predict when membership would make sense for their countries.

A mannequin in a shop window in Parnu, Estonia, holds a model of a euro coin. The country adopts the currency in 2011. Estonia’s small Baltic neighbors, Latvia and Lithuania, have taken the preliminary step of linking their national currencies’ value to that of the euro—a precondition for joining the common currency. Latvian Prime Minister Valdis Dombrovskis recently said that his country aims to join the euro zone in 2014. Lithuanian President Dalia Grybauskaite has said that her country is looking to adopt the euro sometime in 2013 to 2015. Read More

Source: G. Fairclough, Wall Street Journal, December 31, 2010

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Entry filed under: European Union.

The Evolution of the EU’s External Policy and the State of EU/US Relations – João Vale de Almeida, December 9, 2010 Banking on the Renminbi


Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

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