Estonia named the new date of accession to the euro.

Estonia could join the euro zone in July 2010. The statement was made by Prime Minister Andrus Ansip, said AFP. In doing so, the macroeconomic indicators of the country will be brought into conformity with the Maastricht agreement in October 2009.
Estonia had planned to join the euro area in early 2007, but in 2006 the Government had moved the entry for 2008. Because of the global financial crisis and economic decline in the economy and rising inflation have forced the authorities to reschedule again - this time on to 2011.
At the end of 2008 the GDP of Estonia decreased by 3.6 per cent. In April 2008, inflation in the country year on year was 11.4 percent. According to Andrus, in February 2009 that figure had dropped to 3.4 percent, and October can be reduced up to 1,5-2 per cent, which would be consistent with the requirements of the European Union.
Let us recall that Estonia, like Latvia and Lithuania, now in the transitional period of accession to the euro. The duration of this period can be changed by a decision of the European Central Bank or the European Commission.
Euro was introduced in a non-cash circulation on 1 January 1999, when 11 of the 15 EU countries have decided on the formation of the euro. In the real treatment euro coins and banknotes were received on 1 January 2002. There are 16 members of the euro from the 27 EU states.
Maastricht agreements include requirements for states wishing to join the EU or the euro. In particular, the budget deficit of applicants should not exceed three percent of GDP.