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11th Report on the practical preparations for the future enlargement of the euro area

12.11.2010 - The Commission has concluded that Estonia's preparations are well advanced, while recommending further efforts in some areas during the final phase of the changeover.

The Commission report adopted today focuses on Estonia, which will adopt the euro in less than two months.

The Commission concludes that Estonia's preparations are well advanced, while recommending further efforts in some areas during the final phase of the changeover, notably to prevent unjustified price increases and erroneous price perceptions. The Commission recommends continued efforts to increase the coverage of the existing fair-pricing initiative, especially among small and medium-sized companies, and to pursue the efforts to reach all Estonian residents, in particular vulnerable groups, in time with the necessary information on the euro introduction.

The staff working document attached to the report looks at the state of preparations in the other Member States that have not yet introduced the euro (except UK and Denmark that have a formal opt-out from the single currency).

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