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Europe, economic growth, euro and jobs The 92nd anniversary of the Republic of Estonia February 24th was duly celebrated all around the country and also internationally noted. On the occasion President Toomas Hendrik Ilves received congratulation messages from Heads of States around the world including Sweden's King Carl XVI Gustaf, the US President Barack Obama and Russia's President Dmitry Medvedev.

In his festive speech at Vanemuine Theater in Tartu, President Ilves said that after the adoption of the euro Estonia will be the most integrated State in Northern Europe. This puts an obligation on Estonia to speak up on European matters, said President Ilves.

Speaking at a festive meeting to mark the 92nd anniversary of the proclamation of Estonia's independence, Prime Minister Andrus Ansip stressed the importance of going on with reforms; the administrative reform, public service reform, tax reform, pension age and special pension's reform, law enforcement reform and election reform.

- All these reforms will help to build a State that offers a more efficient public service and spends less of the taxpayer's money, said PM Ansip.

- The third greatest challenge this year, besides joining the Eurozone and reducing unemployment, is reversing the economic recession, continued Andrus Ansip. Until we find oil or gold, our wealth will come from exporting companies and we do indeed have a typical export economy as the share of exports in the GDP is 75%.

- Joining the euro zone will increase our trustworthiness. Our labor costs remain a third to a quarter of Sweden's or Finland's. Estonia's current account balance is in surplus, the general government debt is the lowest in the European Union and the state budget deficit is one of the smallest in the European Union. We have nearly 25 billion kroons in reserves.

- All this means that while other States will be repaying their burdensome loans; we can focus on new growth. Once the European economy starts rising again, we will start from the front row, concluded Andrus Ansip his anniversary speech.