President Toomas Hendrik Ilves’s comment on the proposal of the European Commission giving green light to admitting Estonia to the euro area in 2011:

“I welcome the assessment contained in the report of the European Commission published today on our monetary and economic policy as well as the proposal to admit Estonia to the euro area as of January 1 next year.

The proposal of the Commission shows that it follows its own rules and does not waive them on account of the problems and tensions troubling the euro area.

I trust that all the remaining decisions that will still have to be made until Estonia can introduce the euro will also be guided by the principle of adherence to the rules.

The conservative state budget choices that we have made in recent years have considerably improved our ability to act in the economic crisis.

Joining the euro area has not been the desire and aim of merely our Parliament, President or the Government. I would like to pay tribute to the understanding and support of the people of Estonia, without which neither the stabilisation of the state's economic position nor the Commission’s proposal for admission of Estonia to the euro area would have been possible."

12 May 2010
Office of the President

Märkmed: