OREANDA-NEWS. September 23, 2010. The president of the European Central Bank, Jean-Claude Trichet, called at a news conference in Tallinn Estonia's fiscal policy achievements in fighting the crisis the best not only in Europe but in the whole world.

The adjustment was very hard but Estonia has achieved an excellent result, Trichet said.

He at the same time stressed more than once that Estonia and the euro zone alike have a lot of work to do.

The European Central Bank's overall objective is to ensure price stability. Euro is one of the world's largest currencies with regard to which for example both financial markets and ordinary European citizens have expectations.

Among other things the central bank has to ensure the enlargement of the euro zone, Trichet said. The bigger the system the more complicated it is to achieve the goals.

He said in answer to a question about Estonia's role in the euro area that the governor of the Bank of Estonia will be taking part in decision-making with his recommendations and analysis. He underlined that the head of each central bank of the euro area has one vote in making decisions concerning the zone regardless of the size of his or her country.

The European Central Bank's role is monetary policy and economic policy is each country's responsibility, but here too the central bank can support processes, Trichet said.

The president of Poland's central bank, Marek Belka, said his country is envious of Estonia's entry into the euro zone which will in Estonia get its strongest member. On the whole, new members have better opportunities for acting within the euro area, he observed.

Poland is not a member of the euro zone and during the economic crisis the flexible exchange rate of its national currency has been of help to the state, Belka said at the same time.