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Fresh doubts over Estonia's euro eligibility


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The European Central Bank has raised fresh concerns about Estonia's eligibility to join the single European currency.

According to the European Parliament's Economic and Monetary Committee, the country may not quite be ready to adopt the euro, reported LETA/Eesti Paevaleht.

Jurgen Stark, a member of the Economic and Monetary Committee's board, said that while Estonia meets the Masstricht criteria, the country's preparedness is in doubt - especially if its gross domestic product (GDP) is taken into account, the news provider stated.

Estonia's representative in the committee Ivari Padar told the Baltic Course: " We should become shocked from Stark's words.

"Jurgen Stark represents a conservative, sceptical doubting position, central banker style."

Recently, speaking at a seminar in Helsinki, Andres Kuningas, a finance ministry official, said Estonia's existing forecast for a 0.1 per cent fall in GDP would be revised in light of new economic figures, reported Reuters.

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