Currency board the Deutsche Mark from 1992 to 1999 when it switched to fixing to the Euro at par. The peg to the Euro was upheld until January 2011 with Estonia's adoption of the Euro. This policy is seen as a mainstay of that country's subsequent economic success (see Economy of Estonia for a detailed description of the Estonian currency board). Argentina abandoned its currency board in January 2002 after a severe recession. To some, this emphasised the fact that currency boards are not irrevocable, and hence may be abandoned in the face of speculation by foreign exchange traders. However, Argentina's system
Language and the euro euro-cent is sometimes used in countries (such as Australia, Canada, and the United States) which also have "cent" as a currency subdivision, to distinguish them from their local coin. This usage, though unofficial, is mirrored on the coins themselves, which have the words "EURO" and "CENT" displayed on the common side. In Faroese (and Icelandic) the euro is called evra, a feminine noun derived from the Faroese name of Europe, "Evropa"; this makes Faroese (with Icelandic) one of only two European languages in which the word for the euro is feminine. The plural is formed regularly: evrur. The cents are