1 kroon coin (1934) 1 kroon coin (1934) The 1 kroon coin was put in circulation from 1 August 1934 to 25 March 1941, during the first independence period of Estonia. The exact number of coins minted is not known, as part of the archives was destroyed in the war, but some data indicate that about 3,406,066 pieces were struck. Between 1935 and 1936, 1,586,000 1 kroon coins were minted. Designed by graphic artist Günther Reindorff, it depicts the image of a 13th-century Viking cargo ship. With the Estonian monetary reform in January 1928 the law was changed as the Riigikogu had an amendment
Economic and Monetary Union of the European Union various previous proposals, an expert group chaired by Luxembourg's Prime Minister and Finance Minister, Pierre Werner, presented in October 1970 the first commonly agreed blueprint to create an economic and monetary union in three stages (Werner plan). The project experienced serious setbacks from the crises arising from the non-convertibility of the US dollar into gold in August 1971 (i.e., the collapse of the Bretton Woods System) and from rising oil prices in 1972. An attempt to limit the fluctations of European currencies, using a "snake in the tunnel", failed. The debate on EMU was fully re-launched at the Hannover Summit