Estonians skeptical on euro adoption

  • 2010-08-11
  • TBT Staff

Estonia's residents have been wary of the move to join the eurozone at the start of next year.

TALLINN - A recent survey has found that barely more than half of residents of Estonia support the country's decision to join the eurozone.

The statistic was far lower for the ethnic Russian portion of the population, among whom just 32 percent said they supported the move to adopt the EUs single currency.

Estonia has been given final approval by the EU to join the eurozone as of Jan. 1, 2011.

Overall, about 75% of the respondents expected prices to increase generally as a result of the euro changeover. A total of 89% of the respondents felt that they were adequately informed of the euro changeover -- 85% were able to mention the accurate exchange rate for the conversion, while 79% were aware that there was a one-year period when all prices had to be shown in parallel currencies.

The survey was conducted by Faktum & Ariko and included the responses of 500 people from around the country.

Despite the relatively low level of support among the populace, the move to join the eurozone is supported by most professional economists who work in the country.