Estonia says euro adoption unlikely before 2010

The Bank of Estonia announced Wednesday 8 November that soaring inflation is likely to set back Estonia's target date for adopting the euro to 2010.

The small Baltic country, which joined the European Union in 2004, originally had planned to adopt the euro next year, but the government delayed the target date to 1 January 2008.

However, the central bank said it was "unrealistic" to join the euro zone in the next three years, as inflation is expected to continue to soar.

The central bank said it