Estonian kroon 1500 rubles to 150 krooni.) Initially, the Estonian kroon was pegged to the Deutsche Mark at a rate of 8 krooni = 1 Deutsche Mark. After the introduction of the euro the fixed exchange rate of 1.95583 DEM to EUR led to an exchange rate of 15.64664 krooni to the euro. On 28 June 2004, as Estonia joined the ERM II-system, the central parity of the Estonian kroon was revalued (by less than 0.001%) to 15.6466 krooni per euro. On 1 January 2011 the euro replaced the kroon as the official currency of Estonia. The kroon circulated alongside the euro
European Commissioner for Economic and Monetary Affairs and the Euro In October 2011 the position gained added responsibility for the euro, particularly eurozone reform and bail outs, and was made a Vice President. European Commissioner for Economic and Monetary Affairs and the Euro The Commissioner for Economic and Monetary Affairs and the Euro is the member of the European Commission responsible for economic and financial affairs. The current Commissioner is Valdis Dombrovskis (EPP). The post is responsible for the European Union's economic, financial and monetary affairs, often combined with similar portfolios. This position is highly important due to the weight the European Union has economically worldwide (See: Economy of the