Baltoscandia provided by the Panevėžys city municipality, but the functions of the academy did not meet the criteria of the functions of the mentioned municipality. The Nordic-Baltic Eight or "NB8", where 8 stands for the number of States (Estonia, Latvia, Lithuania, Iceland, Norway, Denmark, Finland and Sweden). Baltoscandia The Baltoscandian Confederation or Baltoscandia is a geopolitical concept of a Baltic–Scandinavian union (consisting of Sweden, Denmark, Norway, Iceland, Finland, Estonia, Latvia, and Lithuania). The idea was proposed by a Swedish professor Sten de Geer (1886–1933) in the journal "Geografiska Annaler" in 1928 and further developed by Professor (1893–1960), a Lithuanian scientist in
Economy of Estonia promising in Europe. In 2011, the real GDP growth in Estonia was 8.0%, and according to the projections made by the CEPII, by 2025 the GDP per capita could rise to the level of Nordic economies of Sweden, Finland, Denmark, and Norway. According to the same projections, by 2050, Estonia could become the most productive country in the EU, after Luxembourg, and thus join the top five most productive nations in the world. Until the early 13th century, the territory that is now known as Estonia was independent. The economy was largely an agricultural one, but Estonia being a country