The European Union is likely to grant approval for Estonia to join the euro zone in the first half of 2010, an expert has said.
Marek Belka, the International Monetary Fund's head of European affairs, told Reuters he was confident the EU would look favourably on Estonia's application.
Estonia is expected to meet the criteria for joining the single currency relating to low inflation, interest rates, budget deficit and currency stability, the news provider added.
Mr Belka, who attended the last meeting of euro zone finance ministers on December 1st, confirmed to Reuters: "I hope and I think there is a high likelihood that the EU will give Estonia the green light for euro adoption in the first half of 2010."
The news will serve as a further boost to investment in Estonia. Last week saw the passing of the EU Services Directive which will enable further integration with EU economic policy as companies in Estonia will now be able to offer their services to customers in other EU countries, Baltic Business News said.
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