Assessment of the changeover to the euro in Estonia

The Commission's Communication on the introduction of the euro in Estonia presents the most important aspects of the changeover to the single currency and draws some conclusions for future changeovers in other Member States.

All available information confirms that the changeover in Estonia was well prepared and smoothly implemented and perceived as successful by a large majority of citizens.

Banks, businesses and citizens in Estonia were well supplied with euro cash in advance of the changeover day. ATMs (cash dispensers) and point of sales-terminals (for card payments) were converted in time and banks and post offices coped well with the extra workload during the dual circulation period. Retailers also managed well with the challenges of the changeover process and the handling of two currencies at the same time.

According to the recent Commission Flash Eurobarometer survey, a large majority of Estonians (87 %) perceived the changeover as smooth and efficient.

The information campaign for the euro introduction in Estonia also played an important role in informing the population on the practical aspects and in ensuring a smooth changeover. According to the Commission survey carried out in January, the vast majority of Estonians felt well or rather well informed about the euro.

Documents

• Press notice - 22/03/2011 - The euro changeover in Estonia  
• Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions - The introduction of the euro in Estonia