Estonia Adopts Euro as Currency Club Expands Eastward
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Estonia entered the euro area with “no glitches” in banking and retail, shrugging off the sovereign debt crisis rippling through Europe to extend the currency block into the former Soviet Union.
Wedged between Russia and Latvia on the Baltic Sea, Estonia is the 17th country to switch to the currency. Gross domestic product of 14 billion euros ($19 billion) makes it the second-smallest euro economy after Malta.