Estonia joins the euro club

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The Independent Online

Estonia has become the first former Soviet state to adopt the euro, entering the common currency club at midnight last night.

"Our Estonian kroons are really beautiful banknotes, but, unfortunately, investors cannot trust those beautiful banknotes as much as they can trust euros," said the Prime Minister, Andrus Ansip, referring to the Estonian currency, which will be converted into euros at a rate of 15.6466.