Estonia Adopts The Euro

Revellers taking to the streets of Tallinn on 31st December 2010 had an extra reason to celebrate with Estonia becoming the 17th member to join the Eurozone, and the first from the former Soviet Union.

A special gala concert was being laid on in the Estonian capital, with the music of George Gershwin topping the bill. The new currency was set to go into effect at the stroke of midnight, with Prime Minister Andrus Ansip lined up for a photoshoot, withdrawing some euros from a cashpoint in the capital.

There were vast queues at banks across the country on Thursday, largely due to the fact that people were misinformed about the future of the kroon, Estonias outgoing currency. Although many were worried that their cash would be redundant, in fact, customers can continue to use the kroon for some time. The Estonian currency can still be used in shops for the first two weeks of January. Likewise, following that fortnight, it will still be possible to exchange kroons for euros in commercial banks.