South East MEP Sharon Bowles delighted that Estonia has 'made the grade'
June 2, 2010 3:15 PM
Sharon Bowles MEP, who chairs the Economic and Monetary Affairs Committee, at the European Parliament, has welcomed the ECON approval of Estonia's ascension to the Eurozone.
If the European Parliament supports this in plenary, Estonia could be adopt the Euro by as soon as January 2011.
Sharon Bowles said:
"I'm delighted that Estonia has made the grade and I hope for a smooth and successful adoption of the Euro. Against the backdrop of the economic and social crises, Estonia has fulfilled the criteria deemed necessary to join as a result of the determined, credible and sustained efforts of the Estonian government and the Estonian people.
"The support of the ECON committee to let them adopt the currency in January 2011 demonstrates ongoing confidence in the Eurozone, despite recent attacks on it by speculators. In contrast to other Eurozone members Estonia has been a shining example of prudent fiscal policy which they must maintain in order to ensure a secure transition and price stability. I am also convinced that Estonia will take into account the lessons learned by all members of the single currency area during its first 10 years.
"Smaller countries have a great deal to benefit from joining the EU and the Eurozone and I hope that Estonia will make the most of this opportunity to stimulate growth and employment in the region."
ENDS
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