Estonian kroon circulation. Coins in circulation before being replaced by the euro: Estonian kroon The kroon (sign: kr; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011. Between 1 January and 14 January 2011, the kroon circulated together with the euro, after which the euro became the sole legal tender in Estonia. The kroon was subdivided into 100 cents ("senti"; singular "sent"). The word "kroon" (, “crown”) is related to that of the Nordic currencies (such as the Swedish krona and the Danish and Norwegian krone) and derived from the Latin word "corona" ("crown"). The
Economic and Monetary Union of the European Union Kingdom, whose EU membership predates the introduction of the euro, have legal opt outs from the EU Treaties granting them an exemption from this obligation. The remaining seven non-euro member states are obliged to enter the third stage once they comply with all convergence criteria. The idea of an economic and monetary union in Europe was first raised well before establishing the European Communities. For example, the Latin Monetary Union existed from 1865-1927. In the League of Nations, Gustav Stresemann asked in 1929 for a European currency against the background of an increased economic division due to a number of