Despite predictions of the global community about the euro collapsing or breaking up in wake of the economic crisis of 2008-09, it expands with Estonia becoming the 17th official member to accept the euro as its official currency.
Also, there are a number of smaller countries like Andorra, Monaco, San Marino, which use the euro without being formal members.
Acceptance to use the euro means that transaction costs in Estonia will be removed and the credibility of the elimination of exchange rate risks will be strengthened.
Estonia, despite its small size, is one of the strongest in Europe in terms of fiscal position with the third-smallest government deficit and the smallest public debt. However, Estonia is still recovering from the massive economic crisis of 2008-09.