Eesti Pank / Bank of Estonia

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Estonia's National Changeover Plan

On 1 September 2005, the Government of the Republic approved the first version of the national changeover plan, which formed the basis for making preparations for the adoption of the euro. The changeover plan was prepared in cooperation of Ministry of Finance, Eesti Pank, and several other state authorities. In addition, credit institutions, the Consumer Protection Board, and organisations representing the business community were consulted.

By today, the plan has been updated frequently. The current version of the Estonian National Changeover Plan was completed in April 2010. See also План перехода Эстонии на эвро.

Estonia's economic policy goals in the euro area (A letter from Estonia's Finance Minister and Eesti Pank's Governor to the European Commission, the Eurogroup and Ecofin, June 3, 2010)


Estimated schedule of euro adoption 2010

   12 May - The European Commission and the European Central Bank published convergence reports;
   8 June - ECOFIN gave a recommendation to accept Estonia into the euro area as of 1 January 2011;
   16 June - At the plenary voting of the European Parliament, the members of Parliament voted in favour of the euro adoption in Estonia as of 1 January 2011;
   17 June - The EU government members supported the adoption of the euro in Estonia at the European Council;
   13 July - ECOFIN confirmed Estonia's accession to the euro area since 1 January 2011 with the exchange rate of 1 euro = 15,6466 krooni.

Euro adoption principles