Estonia Euro Changeover

 

1st January, 2011

Estonia adopts the euro and becomes the 17th member of the eurozone.

 

1st December, 2010

Public and Business starter kits containing the Estonian euro coins became available.

 

 

 

20th November, 2010

Estonian euro coins were found for sale in a numismatic shop in Latvia. This is 2 weeks before these coins become legally available; from 1st December, starter kits will be for sale from any Estonian bank. It is still not known how these coins leaked out!


15th September, 2010

Frontloading and Sub-frontloading of the Estonian Euro Coins started on the 15th September - this means that banks and major companies started to get the Estonian euro coins.

 

21st July, 2010

Mass production of the Estonian euro coins has started at the mint of Finland

16th July, 2010

First batch of minted Estonian euro coins was shown to the media

 

13th July, 2010

The ECOFIN Council took the final decisions on the euro adoption in Estonia and confirmed that Estonia is ready and will adopt the euro on 1 January 2011. The Council,  also set the conversion rate at 15.6466 Estonian kroonid to one euro, which corresponds to the current central rate of the kroon in the EU exchange mechanism (ERM II).

Euro festivities welcoming Estonia - In a ceremony in the Berlaymont building following the ECOFIN decision, Commissioner Rehn, the Estonian Finance Minister Jürgen Ligi, the ECB represented by Frank Moss, Director, and other guests will assemble around a Euro map to add a euro button for Estonia.


17th June, 2010

At the meeting of the European Council that took place in Brussels on the 17th June 2010, unanimous approval was given to Estonia to enter the euro area next year. The political leaders of the European Union found that Estonia has fulfilled the conditions for acceding to the euro area thanks to sound economic and financial policies.

 

 

16th June, 2010

Today Estonia's bid to join the Euro was backed by the European Parliament with 589 votes in favour, 40 against and 52 abstentions.

 

12th May, 2010

The European Commission today adopted its regular Convergence Report on euro readiness. It concluded that Estonia meets the criteria for adopting the euro and made a proposal to the Council to this effect. The Council of EU finance ministers (ECOFIN) will take the final decision on the adoption of the euro in Estonia in July, after Parliament has given its opinion and EU Heads of State and Government have discussed the subject at their summit meeting in June.

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