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Monday 24.07.2017 | Name days: Krista, Kristiāna, Kristiāns, Kristīne
EstoniaEstonia

Transition to euro cost Estonia several million kroon

The European single currency euro has been in use for only a couple of weeks in Estonia, but the preparatory work for this transition lasted almost for a year, demanding large sums of money.

Majority of kroon coins left to Estonians

Since last October nearly 243 tons of coins, worth 40 million kroons, have been submitted at the Estonian banks, yet Estonia’s residents still own many coins with the total value exceeding 100 million kroons.

Economist: Estonia should take a loan

Given that Estonia’s financial position is more than stable, it should take an interest-free loan for the infrastructure development, education provision, and unemployment reduction, the Dutch economist Edin Mujagic says.

Bank of Estonia: fake euros - nothing special

Despite the information on counterfeit euros circulates the Estonian mass media more and more often, the Bank of Estonia believes there is nothing special in it.

Eesti Energia signs agreement with Alstom on new power plant construction

The Baltics’ largest power utility Eesti Energia has signed a contract with the French consortium Alstom on new combustible shale plant construction. It is planned to build the new power plant with two 300 MW capacity units next to the existing one at Narva, in Estonia.

Doubling numbers of Estonians forced to sell their homes

Last year circumstances forced 2.5 times more Estonians sell their homes, compared to 2009, however the number of people having lost their housing might be even bigger, according to the Estonian Land Register data.

Experts compare euro to good Estonian PR campaign

The euro transition is accompanied by the biggest PR campaign in the history of Estonia, believes SEB bank analyst Hardo Pajula.

Expert: Estonia making substantial input in eurozone

Estonia did not join the eurozone to be its poorest member, but to show other countries a new attitude towards the financial policy, points out the Estonian Minister of Finance Jürgen Ligi.

Savisaar: Estonians have sacrificed too much for the euro

The Estonian government has rushed with the accession to the eurozone, causing Estonians to give up too many things because of it, the politician Edgar Savisaar admits.

Long customer line-ups at Estonian banks

Despite it will be possible to exchange kroons for euros at Estonia’s banks until June 2011, but at the Bank of Estonia for unlimited period, all major branch banks in Tartu have very long customer queues.

Estonia’s overdue loan volume drops to 6.8%

This year in November, the amount of overdue loans in Estonia has dropped to 6.8% of the total loan volume, indicate the statement by the Estonian Central Bank.

Up to 100 000 Estonians work in Finland

Approximately 50 000 – 100 000 Estonia’s residents regularly commute to Finland, although the official data suggest the number of guest workers from Estonia comprises 21 000.

Estonian Air halts ticket sales due to «sky-rocketed» demand

Estonian Air gift vouchers worth 1000 Estonian kroon, which were sold on the Internet site cherry.ee at 40% discount – for 600 kroon, received such enourmous attention from customers that the company was forced to stop the campaign.

Ryanair launches flights from Tallinn

The Irish low-cost airline Ryanair has launched its first flight from Tallinn International Airport on Monday, December 13.

Estonian bankers await low interest rates in 2011

It is most likely that mortgage interest rates in Estonia will not increase this year, also a rapid EURIBOR rate rise is not expected, considers the representatives of major banks in Estonia.

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