Estonia wishes to join the European Monetary Union (EMU) and adopt the euro currency as soon as possible
Published:
4 August 2003 y., Monday
Estonia wishes to join the European Monetary Union (EMU) and adopt the euro currency as soon as possible, Bank of Estonia President Vahur Kraft
said, adding that there were certain risks which
may put off achieving that goal.
Kraft said Estonia has a timetable which suggests adopting the euro in 2006 and that if EU accession is endorsed by voters in the referendum this September, the central bank will start the relevant preparations
together with the government.
There remains the potential risk that despite the promises so far to consider each new EU member's readiness for the common currency separately, the entrants would be handled in groups or blocs based on
political decisions, Kraft said. "The second danger is
that in order to become a member of EMU we must meet the Maastricht criteria, and the question is whether we are able to meet them," he said. The government's overall fiscal policy, by which Estonia has positively
stood out among other central and eastern European
countries so far, is very important in meeting the
Maastricht criteria, Kraft said.
annual income tax revenues to decline by 1.35-3.97 billion kroons (EUR 86.26-253.67 mln) in the 2004-2007 period.
Šaltinis:
vm.ee
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In Gothenburg Sweden a deal is done for Volvo. A delegation from China’s Zhejiang Geely Holding Group, China’s largest private-run car maker, was given the red carpet treatment when it agreed to buy Ford Motor’s Volvo car unit for 1.8 billion dollars.
more »
The President of the Spanish Government and current rotational President of the European Union, José Luis Rodríguez Zapatero, affirmed this Sunday that during his presidency of the EU, Spain will continue to support the inclusion of the "complete affirmation of equality between men and women" within the new economic strategy.
more »
Despite the unfavorable macroeconomic situation, AS UniCredit Bank Lithuanian Branch achieved positive activity indicators in 2009: the bank branch operated profitably, the total loan portfolio and assets increased and the number of customers grew.
more »
Young people, economic recovery and research should be the EU's top budgetary priorities, said the European Parliament on Thursday, when it became the first EU institution to adopt an opinion on next year's budget.
more »
The sixteen leaders of the euro area countries (the Eurogroup) have given their support to the financial aid mechanism for Greece; this involves the participation of the International Monetary Fund (IMF) and of the euro area countries through bilateral loans.
more »
Today, President of the European Commission José Manuel Barroso, President of the European Council Herman Van Rompuy and Spanish Prime Minister José Luis Rodriguez Zapatero representing the Presidency of the Council met the European social partners to look at how Europe can exit the current economic and financial crisis.
more »
Around 1,100 former furniture and textile workers in Lithuania will receive EU aid worth €1.2 million following a vote by Parliament on Thursday.
more »
An estimated 100 million people in developing countries will fall into extreme poverty because of the economic and financial crisis, according to a report being presented Wednesday evening in the House.
more »
The Heads of State or Government of the EU-27 will make their first formal decisions in the process to develop the “Europe 2020” strategy that aims to achieve sustainable economic growth, job creation as well as recognition for the European social model.
more »
On 16 March 2010 the Lithuanian Authority, Ryšių reguliavimo tarnyba (RRT), informed the European Commission that it was withdrawing its proposed measure on network infrastructure access markets.
more »