Estonia swaps kroon for euro

The eurozone has gained another member even as economists issue dire warnings of further sovereign debt crises to come. Estonia is now in a transition period, with euro becoming legal tender on 1 January. Its national currency, the kroon, will cease to be accepted on 15 January, with banknotes being exchanged at all banks with cash services during the changeover period. The entry exchange rate is 15.65 kroon to €1. Since July last year, businesses have been displaying prices in both kroon and euros.