Estonia s eurozone preparations are on track

Jean-Claude Trichet, president of the European Central Bank, said yesterday in Frankfurt that preparations for Estonia s accession into the eurozone were on track, writes Äripäev. Until now, all the information I have is that it goes in the right direction. A lot of hard work remains to be done. We will have an occasion of rechecking everything. The preparation seems to be on track, he said. According to Trichet, Estonia has done a lot of hard work to meet eurozone criteria and said that he is encouraging others to do the same. Trichet is due to visit Tallinn on September 19 for launching the euro information campaign and for handing over the symbolic present - euro bills on a star-shaped base - to Estonia as the newcomer in the eurozone. Trichet and European commissioner Olli Rehn will be keynote speakers in the euro conference to be held in Tallinn on September 20. Andres Lipstok, the governor of the Estonian central bank Eesti Pank, attended the meeting of the ECB s interest rate committee as an observer.

Estonia Marks 19 Years of Post-Soviet Independence

Flags will fly throughout Estonia on August 20, as the nation marks its 19th anniversary re-establishing its independence, when it formally ended decades of Soviet rule. Estonia first won its independence from Russia in 1918, but it was re-occupied by the Soviet Union at the end of World War II until 1991. Offices, banks and many shops will be closed for the public holiday. Concerts and other cultural events honoring the occasion will be held across the nation. The largest event will combine two Estonian passions - choir music and high-tech gadgetry - into a countrywide singing event. The television channel Kanal 2 and telecommunications firm Elion will join to broadcast, ühtelaulmine, or Singing Together, a mixed choir concert from the central Estonian town of Põltsamaa. A live feed will be projected onto large screens in public venues around the country, allowing local audiences to sing along.

Soviet Legacy Lingers as Estonia Defines Its People

Oleg Bessedin s main travel document is called an alien s passport, as if it were a gag item. But it is all that he has when he ventures abroad -- a reminder of his conflicted relationship with this country, and of the explosive ethnic tensions that endure across the former Soviet Union, nearly two decades after Communism s fall. Mr. Bessedin, 36, an ethnic Russian, was born and raised in Estonia, and lives here with his family. Legally, though, he is not Estonian, nor a citizen of anywhere else. He is among 100,000 people in Estonia, most of them ethnic Russians, who are stateless, as if they were refugees in their own homeland. I love my country, and I have done a whole lot for my country, Mr. Bessedin, a television producer, said.

Taxis in Tallinn

In Estonia each taxi company set the prices because there is not a fixed rate for this public service, so you can find very different prices not only as start price, but also in terms of kroons per kilometer. First of all, the best option is to call a taxi company and ask for a car. If you take the taxi in the street or in a taxi stand it is going to be more expensive but, if you use your phone, you will have to select between 47 different numbers to call. All about average prices Depending on the company, the price per kilometer goes from 3,5 EEK till 42 EEK. The most common price is 5,9 EEK km, and the 46 of the companies have their rate between 5 and 5,9 kroons km.

Fitch Raises Estonia s Ratings On Euro Entry

Rating agency Fitch upgraded Estonia s credit ratings on Monday, following the European Union s formal approval for the Baltic nation s entry into the euro currency bloc in January 2011. Fitch raised Estonia s long-term foreign and local currency issuer default ratings, or IDRs, to A from BBB and A-, respectively with a stable outlook. They have been removed from Rating Watch Positive. At the same time, short-term foreign currency IDR has been upgraded to F1 from F2 and the country ceiling has been raised to AAA from A. Joining the euro area improves Estonia s risk profile as it reduces risks associated with the country s sizable external debt and forex lending in the domestic banking system, Douglas Renwick, Associate Director in Fitch s Sovereigns group said. Entry to the euro area will gives its banks access to European Central Bank s liquidity facilities and, furthermore, Estonia s sound public finances and flexible economy make the country well-suited for a currency union.

Powered by a single voice

Tallinn s dark age has been banished, replaced by sweet sounds amid stunning surrounds, writes Richard Tulloch. Sprinkled around Tallinn s Old Town are wooden carts, from which pairs of young Estonians sell packets of sugared almonds. The merchants are dressed in mediaeval-style robes and gothic lettering on the awning above them reads Gourmet Monk. But below the hems of their garments I can see jeans, designer sneakers and Crocs and they take calls on their mobile phones. Tallinn may flog its mediaeval credentials for tourism purposes but this is a 21st-century city. Our group arrives in Tallinn late in the afternoon, leaving time for a pre-dinner stroll into the Old Town. The sun sparkles on church spires and the turrets of the city walls, bounces off ornate weather vanes above terracotta roofs and backlights the cobblestones on the narrow streets.

Estonia opens. ee domain names

Estonia s decision to deregulate the. ee Internet domain names has been met with a rush of companies and private individuals jockeying for a website. The flood of registry requests was so great on the first day that the entire registration system crashed. It is now back online, with a new. ee website going up every two minutes. «The objective of the new order for internet domains is to make the domains with Estonian country code more accessible than it has been thus far,» said Marek-Andres Kauts, CEO of the Estonian Internet Foundation.

Why Estonia wants to join the troubled euro

Who in their right mind would want to join the euro? The EU s single currency is giving a very good impression of being in trouble. A huge bail-out for the Greek economy and persistent rumours that other countries could need similar help have undermined confidence and credibility. Dithering and bickering by Europe s political leaders has not helped. So it is perhaps something of a surprise to find that Estonia, one of the EU s newest and smallest member states, is all set to adopt the single currency in January 2011. Last week, as they have done for centuries, Estonians marked midsummer with a celebration, known as St John s Eve. Bands played, people danced and beer was drunk around roaring log fires. The sun was shining, even though it was nearly 11pm.

Estonian april trade deficit declines sharply

The Estonian trade balance showed a deficit of EEK 357 million in April, down from EEK 1.59 billion in the same period of last year, the Statistics Estonia said in a report on Monday. The deficit was also smaller than the EEK 2.67 billion shortfall seen in March. Exports of goods amounted to EEK 10.6 billion, up 37 from the previous year. Exports totaled EEK 9.83 billion in March. Imports increased 18 annually to EEK 10.98 billion. In March, imports stood at EEK 12.49 billion. In April compared to previous month, exports of Estonia increased by 8, but imports decreased 12. In April, the biggest share in Estonia s total exports was held by the commodities of machinery and equipment and mineral products. The largest share in imports was also held by machinery and equipment, followed by mineral products.

Jaanipev Between History and Anecdotes

It is a magic night and Estonians have known how to celebrate it for centuries. Not much about this night is known by foreigners besides the bonfires and the big celebration but the midsummer celebration solstice has a lot of traditions and stories surrounding it and the origins of this important event are certainly unclear. History says that the Jaanipev celebration existed already before Christianity arrived to the country. The ancient Estonians used to light bonfires, drink, dance, sing, follow some rituals and most of these activities did not fade away over the centuries. Although it has a non Christian origin, it was the crusaders who gave this night its actual name: Jaanipev Even if the bonfires where already part of the tradition, they acquired a special meaning in 1919 during the War of Independence when Estonian troops overcame the German forces on the 23 rd of June connecting the symbol of the fire with independence and freedom.