Talks have gone faster than anticipated, Michal added, and the important topics have already been looked at.

These started with discussions on economic competitiveness, defense requirements, the state budget, and related coping strategies, and the three parties involved will continue addressing these topics this week.

Michal said. "I hope we can reach the bare bones of an agreement by the end of this week."

"As of today, our partners – Eesti 200 and the Social Democrats – share this sentiment. This week will tell. It is always the case with agreements that once the last detail is agreed upon, so everything is agreed upon. But first comes the content, then we will move on to personnel matters," Michal went on, referring to ministerial portfolios.

Before any coalition agreement can be made public, it will need to be reviewed by the boards and committees of the parties involved.

Since the three parties engaged in talks – Eesti 200 and the Social Democrats, along with Reform – were in office together already, this may also have served to speed things along.

A new coalition needs to be formed up following Kaja Kallas' announcement last month that she would be stepping down as prime minister, after nearly three-and-a-half years in the post.

Kallas formally tendered her resignation on Monday ahead of the hearing into her candidacy as the EU's next High Representative of the Union for Foreign Affairs and Security Policy, while Kristen Michal was chosen as the prime ministerial candidate for the next domestic coalition.

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