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Estonian finance minister 'confident of euro adoption'

10.05.2010

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Despite a recent rise in inflation in Estonia, the country's finance minister had expressed confidence over its chances of joining the euro.

Jurgen Ligi told German press agency DPA that he believed Estonia would be recommended for adoption of the single currency this week.

His comments come before the European Commission issues a statement on whether it believes the Baltic nation is ready to become the 17th member of the eurozone.

Mr Ligi said he has "always been confident" that Estonia is fulfilling the criteria needed to join the bloc.

Indeed, he pointed out that the increases in inflation seen in recent months have been driven by outside factors such as energy prices and seasonal factors like vegetable prices.

Last month, EurActiv.com reported that the European Commission was ready to give its backing to Estonia's eurozone bid by mid-May.

An EU official purportedly said: "If nothing extraordinary happens, the commission will give its positive opinion for the accession of Estonia to the eurozone on May 12th."

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