There is little doubt that Estonia has joined the euro area in turbulent times. Not only is Estonia, as a new member of the club, facing a number of challenges; the euro area itself has undergone considerable stress over the past months and requires an overhaul of its foundations.
Nevertheless, before reflecting on the existing challenges, we should briefly take stock of the benefits that arise from our single European currency. 2. The benefits of a single currency and their preconditions  Currencies have always been an important symbol of national identity – the Estonian people know this all too well. Consequently, the euro has been a key element of European political integration.