Estonia, EU – Baltic States, Financial Services

"The accounting systems of all institutions handling money and other much more specific systems have been counted by now and changing them has been started or is about to start,” said finance ministry administrative policy deputy chancellor Marek Helm in ETV’s morning programme.

“All institutions and organisations have to achieve physical readiness by July 1, 2010. All have to report a half a year in advance that they are physically capable of starting to use the euro,” said Helm.

He noted that for more critical systems it is a one-time, very strong and serious effort and thus, it has been prescribed that for example changing the Social Insurance Board and Tax and Customs Board information systems will be supported with EU funds.

Helm was unable to say how much changing all information systems would cost since not all state procurement contests have been held.

On Tuesday, an expert committee will convene at the finance ministry to review the state of preparations.