Estonia and the Euro

A competition was announced on June 2004 for the design of the national side of the Estonian euro coin. The design for the national side of Estonia's coins is the same for all denominations. It features a geographical image of Estonia and the word 'Eesti', which means 'Estonia'.

Estonia and the other nine states that joined the EU in 2004 have committed to adopting the euro. Of the ten new member states, Estonia was the first to unveil its design. It originally planned to adopt the euro on 1 January 2007, however, it did not formally apply when Slovenia did, and officially changed its target date to 1 January 2008, and later, to 1 January 2011.

On 12 May 2010 the European Commission informed that Estonia had met all criteria to join the eurozone. On 8 June 2010, the EU finance ministers decided in Luxembourg that Estonia will join the euro on 1 January 2011. On 13 July 2010, Estonia received the final approval from the ECOFIN to adopt the euro as from 1 January 2011. On the same date the exchange rate at which kroon will be exchanged to euro was also announced. On the 20 July 2010, the mass production of the Estonian euro coins started at the mint of Finland. Estonia will become the first ex-Soviet republic to join the Eurozone.