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BNS - Marten Ross, vice-governor of the Bank of Estonia, said during a meeting at the Estonian embassy in Finland that with high probability Estonia would meet all the values of the Maastricht criteria at the end of this year.
It is therefore possible that the euro will be adopted in Estonia in 2011, Ross said.
The vice-governor of the central bank said that the main risk factor for Estonian economy had now significantly retreated and the vulnerabilities referred to by analysts were based either on outdated information or on superficial analyses.
"Estonia's economic growth does not depend on the current inflow of foreign currency and the Estonian current account is becoming balanced. The need for foreign investments will fully be covered by the inflow of money from structural funds of the European Union," Ross said.
"Talk about a short-term foreign loan that has to paid back urgently is not true. Such assertions are based on wrong interpretation of data."
Estonian banking, which belongs to the Nordic banking market, is reliable and stable, he said. "We certainly have the preconditions to become one among the first to come out of the economic crisis and adoption of the euro will significantly contribute to it."
Among others, Johnny Akerholm, President of the Nordic Investment Bank, attended the meeting at the Estonian embassy in Finland.
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