Estonia given a “Euro Star” on joining the Euro Zone

In September the European Central Bank’s chairmen Mr. Jean- Claud Triche handed to the Bank of Estonia’s head Mr. Andres Lipstock a symbolic “Euro Star” as an emblem of its entering the Euro Zone. According to Mr. Triche  introduction of Euro is a historic moment for every country. He added that Estonia’s joining of the Zone shows that it is not a closed club. Estonia is a 17th member of the currency union & the first its member from Baltic states. In spite of tough financial crisis of 2008 that led to double rated crush of the country’s GDP it managed to keep it’s own currency’s stability & due to that received an invitation from Brussels to introduce Euro. Estonian Government approved a law project of introducing joint European currency in early March 2010. In May the Euro Commission recommended to include Estonia in the members of the Zone.  On the 17 of June during a EU summit they decided to enter the Euro Zone. From 1st January 2011 European currency will start official circulation on the territory of this Baltic state. Now Euro Zone consists of 16 countries. Slovakia was last to joint it – since 1st January 2009.

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