Estonia and the euro was one of the subjects being highlighted as SCCE met Eesti Pank's - the Estonian Central Bank's Chairman of the Board, Jaan Männik for an After Business Hours discussion at Tallinn's Hotel Telegraaf.

As the meeting took place Thursday evening March 25th, it was the evening before Eesti Statistika - Statistics Estonia published and submitted their 2009 figures to Eurostat as a preparation for the coming decision on Estonia's eventual entry into the eurozone.

- Keep a look out for the figures tomorrow, said Jaan Männik and as SCCE did that Friday morning March 26th, Statistics Estonia's news release could be summarized with two sentences:

"In 2009, the general government budget's deficit remained within the limits set out in the Maastricht Treaty. According to preliminary data of Statistics Estonia, in 2009 the Estonian general government sector deficit was 1.7% and gross debt level was 7.2% of the GDP."

The full news release is available on this link www.stat.ee/37978 and the figures in Statistics Estonia's report will now be scrutinized by Eurostat who will publish their findings in a report due on Thursday, April 22nd .

- Eurostat's coming April report should not be regarded as a decision on Estonia and the euro, but it will of course be an indicator on the outcome of the final decision scheduled for July 13th , said Jaan Männik.

Following a PowerPoint-free introduction by Jaan Männik, our After Business Hours discussion covered more than just the euro issue. Estonia's unemployment level, an aging population, talented young people moving abroad, weak domestic demand and export efforts were among the other subjects being discussed this evening.

On behalf of the SCCE Council, I would like to thank Jaan Männik and the participating SCCE Members for a very interesting and enlightening evening discussion. My thanks also go to Hotel Telegraaf for a very nice After Business Hours arrangement.

Sincerely,

Kristiina Sikk
SCCE Ombudsman