If people are reluctant to pay taxes but demand social security and good roads, it is the shadow of the past. In brief, if people do not understand why elections are held and what is the state’s role, it is the shadow of the past. But, of course, in ten years a lot has been achieved. We have built up democratic institutions. Market economy functions. Private ownership has a solid foundation. Banks provide credit to people for new housing developments. But our current success should not be taken for granted. And we should also bear in mind that much needs to be done yet. The public has to understand the role and possibilities of the state and the government in the market economy. Everybody should feel responsible for their own welfare as well as their family’s and the state’s well-being. Our new generation should be able to cope with the complicated processes of the modern society much better than we did. In our efforts to achieve this goal it is impossible to underestimate the support provided by our partners. The Estonian society and politicians need partners with whom to exchange experience and from whom still to learn the fundamentals of the functioning civil society. At that, I would like to thank Konrad Adenauer Foundation for the work it has done and is doing in Estonia and elsewhere for the promotion of political co-operation, preservation and support of free democracies throughout the world, development and consolidation of the social market economy and respective values.
D.  Concluding remarks  To date the European Union faces several complicated but well-known economic policy problems from the recent past. Estonia as the future EU member state must take this into account. It is not enough to be able to overcome challenges on the WAY to the European Union. We must become equal partners to other European states, be able and willing to participate in the discussions on the monetary and fiscal policy issues, perceive Estonia in Europe and Europe in Estonia. Today the European Economic and Monetary Union within which 12 states have adopted the single currency, offers a historic chance to create a truly strong, flexible and efficient economic area. I believe that potentials of the single currency will be exploited in the best possible way. It would serve the interests of the current as well as future member states and the whole of Europe. BIS Review 51/2002  7