Economics, Estonia, Financial Services, Markets and Companies

International Internet Magazine. Baltic States news & analytics Sunday, 27.04.2025, 01:39

Estonian PM warns people against companies that use euro to raise prices

Juhan Tere, BC, Tallinn, 23.05.2010.Print version
Estonian Prime Minister Andrus Ansip said on Friday that people should be very critical about companies that considerably raise prices and justify it with the transition to the euro. Ansip said in the national radio on Friday that price increases and falls don’t depend on the currency used in a country but on the economic cycle and developments in the world economy.

In many states that have adopted the euro, prices have really increased but not more than 0.1-0.3%. In some countries however prices fell, like in Slovakia. Prices have increased at the same time in Estonia too, although here the euro is not yet in use.

 

Ansip said that people, consumer initiations and the press should be very critical about activities of companies that try to take advantage of the arrival of the euro and round prices higher.

 

If people condemn such activates and change their preferences, it will affect retailers, Ansip said.

 

Ansip cited the example of the recent 5 euro notes row, where people expressed major disappointment over the fact that the 10 euro note will be the smallest that ATMs will dispense starting next year, after which at least one bank, Swedbank, started thinking how 5 euro notes could also be used.





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