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MEPs support Estonia's Euro currency ambitions

Wednesday, 26 May 2010
Estonian Kroons by Mayu ;P, on FlickrIt would appear the Estonian Kroon’s days as the national currency are numbered as MEPs today voiced their approval at Estonia’s progress towards adopting the single currency.

In a meeting of the Parliament’s Economic and Monetary Affairs Committee in Strasbourg today, MEPs from all sides voiced their support for Estonia's imminent adoption.

Gay Mitchell (EPP, IRE) also welcomed the fact "that such a small country becomes part of the Euro at such a time of wild speculation" and praising the country's "impressive performance", he said that Estonia could be a "flagship for the region", serving as an example to other Baltic countries that if "you do meet the criteria, you can join".

Edward Scicluna (S&D, MA), the author of the draft the report on Tallinn's Euro ambitions said that "it is very significant that such a small country knocks at the Eurozone's door at the time of the worst financial, economic and social crisis".

For some MEPs, the knock-on effect for Estonia's neighbours Latvia and Lithuania was the most striking aspect. Latvian EPP MEP Artūrs Krišjānis Kariņš expressed his belief that this will be "an important signal for the region".

As for the Liberal grouping, Swedish MEP Olle Schmidt said "congratulations to Estonia - if it only could have been my own country".

Mr Scicluna’s report is due to be put to the vote in the June plenary session of the Parliament.

If adopted, another barrier is overcome towards the Kroon being replaced by the Euro in the Baltic state.

SEE ALSO: Estonia gets Commission green light to adopt Euro in 2011

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