Estonia enters euro

16th of March 2011

On January 1 Estonia became the 17th country to join the eurozone when it adopted the currency, the first former Soviet republic to do so. With GDP of 14 billion euros it is the second smallest euro economy after Malta.

The country is likely to be the last addition to the eurozone for several years. Lithuania and Latvia are next in line and aiming for 2014, with bigger countries in eastern Europe being reluctant to set target dates.

Despite being the poorest nation in the bloc and having a population of only 1.3 million people, its low levels of public debts make Estonia the fiscally soundest country.


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