Posts tagged as euro

Largest second pillar payout was over €440,000

Monday, September 6, 2021

The largest payout made to people that quit the second pillar pension system last week was more than €440,000 and the smallest payout was less than one euro. Funded Pension Registry (Pensionkeskus) board member Kristi Sisa told ETV’s morning show “Terevisioon” that after deducting income taxes, a total of more than €1 billion was transferred to peoples’ accounts last week with the state receiving €265 million euros in income tax.…

Bank of Estonia discovers unlimited potential in digital euro pilots

Wednesday, August 4, 2021

The central bank of Estonia has discovered what it describes as ‘unlimited potential’ in its blockchain based digital euro trials, after discovering that blockchain tech can ‘in theory’ support almost unlimited scale in transaction throughput. Following an experiment conducted in collaboration with several other local central banks inside the euro area, Eesti Pank announced it had discovered a “novel blockchain-based solution could in theory support almost unlimited numbers of payments…

Estonia’s June inflation among fastest in euro area

Tuesday, July 20, 2021

While annual inflation in the euro area slowed from 2 percent in May to 1.9 percent in June, in Estonia inflation accelerated from 3.2 percent to 3.7 percent and was among the fastest in the euro area, according to data from Eurostat. European Union annual inflation was 2.2 percent in June 2021, down from 2.3 percent in May. In June 2020, inflation in the euro area was 0.3 percent and…

Latvia’s 150 million euro loan to be approved by Council of Europe Development Bank

Tuesday, May 12, 2020

The Council of Europe Development Bank (CEB) on May 12 is set to approve a €150 million loan to Latvia to support the government’s measures to contain the outbreak of COVID-19. “CEB funding will ease the budgetary pressure on the public health care sector. The authorities have already approved measures totaling €1.8 billion to help fight the spread of the COVID-19 pandemic. These include the acquisition of disposable personal protective…

Digital euro is just a matter of time – Kazaks

Thursday, January 9, 2020

It is important for central banks to get involved in handling cryptoassets and other new virtual payment systems, Bank of Latvia Governor Martins Kazaks said in an interview with LETA, adding that the emergence of a digital euro is just a matter of time. “Technological development is very fast and people and entrepreneurs are eager to use these technologies. In my opinion, it is just impossible for central banks not…

Estonia defeated 4-0 by Holland in Euros qualifier

Tuesday, September 10, 2019

Estonia’s national football team lost 4-0 at home to the Netherlands in a European Championships qualifier in Tallinn Monday night, leaving the team firmly rooted at the bottom of Group C. The guests took the lead in the 17th minute at the A. le Coq Arena in Tallinn, after keeping Estonia under pressure with several chances, one finding the net but being ruled offside, when Ryan Babel (Galatasaray) connected with…

New Greek government faces swift test from creditors

Monday, July 8, 2019

Conservative party leader Kyriakos Mitsotakis was sworn in as Greece’s new prime minister Monday, a day after his resounding win over left-wing Alexis Tsipras, who led the country through the tumultuous final years of its international bailouts. Mitsotakis, 51, was elected on a pledge to cut bailout-era taxes and ease draconian budget targets set by Greece’s creditors during the years of financial rescue — commitments that could be put to…

Israel trounces Latvia 3-0 with Zahavi hat trick in Euro 2020 qualifying game

Saturday, June 8, 2019

Israel beat Latvia 3-0 on Friday night in Riga, thanks to a hat trick from Eran Zahavi, defying expectations by staying in contention for a spot in the final tournament due to take place next summer in 12 cities in 12 European countries. Zahavi curled in a free kick in the ninth minute and added two more goals in the second half, giving him seven in three qualifiers. “I was…

EU needs common anti-money laundering system

Thursday, February 21, 2019

The euro area and the European Union need a common money laundering prevention system, Lithuanian Finance Minister Vilius Sapoka said on Wednesday following Swedish media reports linking Swedbank to Danske Bank’s money laundering scandal.  “The prevention of money laundering in Lithuania is given very serious attention. I have stated on more than one occasion and told both MEPs and ministers of other countries that we must create a common money…

Euro adoption has saved EUR 66 mln in five years in service of government debt

Wednesday, January 23, 2019

Euro adoption in five years helped Latvia to save EUR 66 mln in service of government debt, Finance Ministry’s representative Ieva Veja said LETA. She said that five years have passed since January 1, 2014, when Latvia adopted the euro. “It was a historic event for Latvia, and its most positive benefits is averted risk of devaluation of the national currency, increase of the state credit rating, further Latvia’s integration…