Bank of Estonia optimistic on Elering, Eesti Energia bond purchase ({{commentsTotal}})


Despite the European Central Bank stopping Estonia from buying bonds of state-owned companies such as Elering and Eesti Energia, Bank of Estonia President Ardo Hansson said the topic is still in the air.

“There are fewer questions concerning Elering as it is a monopoly and the market can not be distorted. The question over Eesti Energia is that it is in competition with private sector companies and also with other European businesses and we have to guarantee that adding it to the list [of companies which sell bonds to Estonia] will not give it unfair competitive advantages,” Hansson said.

Estonia must spend three billion euros on bonds by September 2016 as part of a European Central Bank quantitative easing program. As Estonia itself does not issue bonds it has been forced to buy bonds in international organizations such the European Investment Bank.

The European Central Bank drew up a list of companies able to participate in the program by issuing bonds. No Estonian companies were on that list even after Wednesday's review.

Editor: J.M. Laats

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.

Ermamaa: The fine art of passing the buck

Admit nothing, blame everyone: those most closely involved in the Ermamaa case don’t need arguments, writes ERR News editor Dario Cavegn.