At 00:20 on Saturday morning (New Years Day), Estonian ATMs started distributing Euro-notes thanks to Estonia becaming a eurozone member.
Outside a newly installed ATM, clasping a bundle of Euro-notes, Prime Minister Andrus Ansip announced that “It is a small step for the eurozone and a big step for Estonia … We are proud to be a eurozone member state.” He added, that “For Estonia, the choice is to be inside the club, among the decision makers, or stay outside of the club. We prefer to act as club members.” Bank accounts owners had their monies automatically converted from Kroons to Euro’s at the 24:00 on New Year’s Eve.
On January 13, Andres Lipstok, who manages the Estonian Central Bank, will be the first Estonian representative to participate in the European Central Bank’s council.
European Union parliament head, Jerzy Buzek, declared that “The euro is a common good … it is both a world currency and one of the pillars of the European Union.”
Paul Krugman, a Nobel Prize winner in economics wrote: “Congratulations to Estonia – but condolences too. This wasn’t the glittering euro entrance you were promised.”