The Euro

Some Estonians have not been very happy over the idea of introducing Euro as the new currency. That may be due to the fact that the Estonian Crown (currency) was only reintroduced in 1992 after the reform. Thereby it seems that taking in a new currency is equal to losing some part of the Estonian identity perhaps. However things are not that easy today with the economy in a bad shape.

”Foreign investments are an important form of assistance that can help us recover from this crisis. This belief is backed by an understanding that the euro is not a miracle drug, but without the euro, a quick recovery from this crisis will not occur,” said President Ilves in a meeting with four businessmen Jüri Käo, Toomas Luman, Veikko Maripuu and Enn Veskimägi in Kadriorg, in April.

Must agree with the President in this point because adapting to a new currency will take some time and patience, but if it is beneficial in the long term, we should make all possible actions for the transfer to happen as soon as possible.