Estonia may not see euro in 2010

  • 2009-01-13
  • TBT Staff
TALLINN-Although EU MonetaryCommissioner Joaquin Almunia reported that Estonia may have to postpone joiningthe eurozone, Estonian PM Ansip is still optimistic.

Almunia in a meeting in Strasbourghad said that he wasn't sure if Estonia'sbudget deficit would be able to stay under the required 3 percent of the GDP, arequirement for adoption of the euro.

The Estonian ministers of Economy, Environment and Communications are currentlyreviewing ways in which to keep the deficit under 3 percent, starting withreducing monopolies to lower energy prices.

The ministers are looking at ways to increase competition, specificallyamong water companies.  

 "In Estonia theprices keep going up. Sometimes fuel prices go up and down, but perhaps theycould do it faster. In current condition one should look over the habit thatprices keep going up," said Minister Jarvan to Aripaev daily.  

It was originally estimated that Estonia would adopt the euro in2010.