Estonian kroon received real coverage with the reserves backing the kroon. The issue of treasury notes and exchange notes was terminated. In order to secure the credibility of the kroon, the Bank of Estonia exchanged kroon for foreign currency. All these measures restored confidence in the domestic banking and monetary sector, contributing to the economic reinvigoration of the country and to the improvement of the reputation of the Estonian state in the international arena. During the Great Depression in 1933, the kroon went off the gold standard, devalued 35% and obtained a currency peg with the Great Britain Pound (GBP) at 1
Robert Kroon Robert Kroon Robert L. Kroon (1924, The Hague – June 24, 2007, Genolier) was a prominent Dutch journalist who reported on conflicts and other stories as a foreign correspondent from Africa, Asia and Europe for nearly 60 years. Kroon began his work for the Associated Press in the years following World War II. His first reports for the AP came in 1949 during the Indonesian war of independence against the Netherlands. Kroon was expelled from Indonesia in 1952 by the country's military for, in his own words, "'inimical reporting' about a rebellion in the Indonesian Spice Islands." (which are now