Today, Chairman of the European Union Affairs Committee Marko Mihkelson and Chairman of the Finance Committee and member of the EU Affairs Committee Taavi Rõivasmet at Toompea Member of the European Parliament Edward Scicluna who is the European Parliament’s rapporteur on Estonia’s possible adoption of the euro.
First, Scicluna gave an overview of the problems of the euro zone and the current situation in connection with the financial crisis that has emerged in Greece. He admitted that the monetary union had not been ready for that. Scicluna said that, in order to strengthen the euro zone, measures will be developed and implemented for avoiding such situations.
Mihkelson stressed that the Government’s positions in communication with the European Union institutions and in ECOFIN are discussed thoroughly in the Committee and there the Government receives parliament’s support to its positions. Mihkelson introduced the steps that have been taken in the Riigikogu for adoption of the euro, and the positive support of public opinion.
Rõivas explained the budget policy of the state. He noted that a balanced budget has been set as a target. Despite the present deficit, a budget surplus is hoped to be achieved within coming years in order to better manage problems when they arise. Rõivas also introduced the fiscal policy of the state.
Mihkelson added that a balanced budget has been the basis in Estonia since the adoption of the kroon. In his words, quick action has been taken and no time has been lost when complicated situations have emerged.
Scicluna wished to meet representatives of different institutions in order to hear positions expressed on the spot, before the disclosure of the decision the following day. Scicluna said that the decision that was going to be disclosed the following day was essentially declarative in content. It would state whether Estonia has fulfilled the criteria necessary for transition to the euro and whether the financial policy of the state is assessed as sustainable. Thereafter, the official process in the issue of Estonia’s adoption of the euro would be launched.
The Riigikogu Press Service