Estonia heading for Euro

European finance ministers have given their approval to Estonia to adopt the Euro as the country’s main currency as from 1 January 2011.

The tiny Baltic state populated by 1.3m inhabitants will become Europe’s 17th member to adopt the single currency. Estonia has met the entry requirements concerning inflation, deficit, debt and interest rates.

Of the EU’s 27 member states, 16 have adopted the Euro as their main currency with Slovakia being the latest to join in 2009.