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
International status and usage of the euro considering making the euro a third official currency of the country to go along with the US dollar and the Balboa. In various countries the euro is accepted by some merchants albeit not being official currency there. Additionally sometimes it is used for pricing purposes even if the actual payments are made in the official currency (e.g., for real estate). The Swedish town of Höganäs has, since 1 January 2009, generally allowed shop payments in euros alongside the Swedish krona. Widespread usage, though unofficial, is also present in towns such as Haparanda, on the border with Finland. The euro is