Estonian, Spanish ministers speak about EU IT Agency

Estonian Interior Minister Marko Pomerants, in a meeting with his Spanish colleague Alfredo Perez Rubalcaba, spoke about the priorities for the Spanish presidency of the European Union and the future of the IT agency for justice and interior affairs.
The two ministers met in Luxembourg on the sidelines of a session of the EU justice and [...]

EU approved the financial supervisory framework

The EU Finance Ministers (Ecofin Council) approved the principles of the reform of the EU financial supervisory framework on 9th of June in Luxembourg.The new framework involves the creation of a European Systemic Risk Board to assess the stability of the financial system of the EU, and establishment of three European supervisory agencies (for supervision [...]

Results of the European Parliamentary elections in Estonia

On 7 June 2009, Estonians elected their six representatives to the European Parliament. Having become a full member of the European Union on 1 May 2004, it was the second time Estonian voters could participate in forming the European Parliament. The Estonian Centre Party won the elections with 26% of votes and two seats in [...]

EU allocates 6.7 mEUR for Estonia-Latvia gas link

Aside from the Estlink-2 undersea power cable project, the project to build a gas link between Estonia and Latvia also stands to receive support from the EU’s economic stimulus package.
The size of the EU allocation for the gas link project is 6.7 million euros.
Prime Minister Andrus Ansip said after the EU summit on Friday that [...]

Estonia tries to manage without EU’s help

Currently Estonia isn’t intending to get money from EUR 50 bln credit line for Eastern Europe, Ivari Padar, the Minister of Finance told aripaev.ee. 
“We can handle things here. Let’s keep our flag high! If we act in a disciplined way, keep our consumption under control on the state level as well, don’t spend that much [...]

Government backs EU economic stimulus proposal

The Estonian government today approved the European Commission proposal to invest an additional five billion euros over the next two years to give a stimulus to the European economy.
The European Union executive proposes to invest in key energy projects, extending and upgrading of high-speed internet in rural communities, and tackling new challenges of the Common [...]

Slovakia to adopt the euro on 1 January 2009

On 1 January 2009, Slovakia will join the euro area, becoming the 16th official member country to do so. The koruna, Slovakia’s national currency, will be in dual circulation with the euro until 16 January 2009.
As from 1 January 2009, the euro will become legal tender in Slovakia and starting from 17 January 2009, the [...]

EU satisfied with money laundering prevention activities

At the Moneyval plenary meeting of the European Council from 8 to 12, the Minister of Finance successfully defended the report on the prevention of money laundering and terrorist financing which supports the successes and current activities of Estonia.
 
The final report passed at the Moneyval meeting is predominantly positive about the system for prevention of [...]

Brussels freezes payments of structural aid to Estonia

 The European Commission has temporarily frozen payments of all funds to Estonia earmarked as structural aid.
“All reimbursement requests that Estonia has made to the Commission under the structural funds are now on a so-called waiting list,” confirmed Kaur Siruli, head of the finance control department of the Ministry of Finance.
He added that, more specifically, the [...]

Mart Laar: delay with eurozone entry cost Estonia dearly

Former Prime Minister Mart Laar believes that the government’s decision not to enter the eurozone in 2007 had a high price for Estonia.

Laar who attended a TV show for former PMs said that the mistake was to consider that economic growth was more important than reducing inflation and ensuring that Estonia is accepted to the [...]