YAHOO! FINANCE: The European Commission on Wednesday gave Estonia the green light to become the 17th country to switch to the shared euro currency as of January 1, 2011.
"Estonia has achieved a high degree of sustainable economic convergence and is ready to adopt the euro on 1 January 2011," European Union Commissioner for Economic and Budgetary affairs Olli Rehn said.
"To ensure that the adoption of the euro is a success, Estonia must pursue its efforts to maintain a prudent fiscal policy stance," Rehn noted, urging Tallinn to "remain vigilant and react early and decisively" if problems emerge.
The single currency's future remains uncertain in the eyes of some analysts despite a trillion-dollar economic stabilisation programme for eurozone countries announced on Monday. >>> AFP | Wednesday, May 12, 2010
