"1990 increased the public sector employees and spending and the tax burden imposed on the citizens. In 1992, Finland simultaneously faced economic overheating and depressed Western, Russian, and local markets. Finland joined the European Union in 1995, and replaced the Finnish markka with the euro in 2002. According to a 2016 poll, 61% of Finns preferred not to join NATO. If confirmed, the oldest archeological site in Finland would be the Wolf Cave in Kristinestad, in Ostrobothnia. The site would be the only pre-glacial (Neanderthal) site so far discovered in the Nordic Countries, and it is approximately 125,000 years old."
"to that of Swedish within the Finnish government, and thereby practically in Finland at large, the re-establishment of the Parliament, which had remained inhibited since the Russian conquest. Separate Finnish currency, the Markka, was introduced in 1860, and Snellman managed to tie it to silver instead of to the ruble. The Markka came to be of the utmost value for Finland. Snellman's tenure as Finance Minister would be tainted by the Finnish famine of 1866–1868, aggravated by the government's strict fiscal policy, but Snellman worked to get aid while trying to protect the new currency. Snellman's inflexibility and high prolific"
"""penniä"", ), postfixed ""p"". At the point of conversion, the rate was fixed at €1 = 5.94573 mk. The markka was introduced in 1860 by the Bank of Finland, replacing the Russian ruble at a rate of four markkaa to one ruble. Senator Fabian Langenskiöld is called ""father of markka"". In 1865 the markka was separated from the Russian ruble and tied to the value of silver. From 1878 to 1915, Finland adopted the gold standard of the Latin Monetary Union. Before markka there were Swedish riksdaler and Russian ruble used side-by-side for a time. Up to World War 1,"
"1999, with physical euro money arriving later in 2002. It has been speculated that if Finland had not joined the euro, market fluctuations such as the dot-com bubble would have reflected as wild fluctuations in the price of the markka. (Nokia, formerly traded in markkas, was in 2000 the European company with the highest market capitalization. The name ""markka"" was based on a medieval unit of weight. Both ""markka"" and ""penni"" are similar to words used in Germany for that country's former currency, based on the same roots as the German Mark and pfennig. Although the word ""markka"" predates the"
"Italian lira The lira (; plural lire ) was the currency of Italy between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The term originates from the value of a pound weight () of high purity silver and as such is a direct cognate of the British"
"of Germany. The martial law in Lithuania, introduced in 1863, lasted for the next 40 years. Native languages, Lithuanian, Ukrainian and Belarussian, were completely banned from printed texts, the Ems Ukase being an example. The Polish language was banned in both oral and written form from all provinces except Congress Poland, where it was allowed in private conversations only. In 1863, Alexander II re-convened the Diet of Finland and initiated several reforms increasing Finland's autonomy within the Russian Empire, including establishment of its own currency, the ""markka"". Liberation of business led to increased foreign investment and industrial development. Finland also"
"other buildings. In the meantime, the Turku Old Shipyard on the other side of the river built the largest shipbuilding cradle in Finland. The 1850s, 1860s and 1870s was a period of rapid development and economic deregulation. The Companies Act as well as the Banking Act were laid down in 1864 and, at the same time, Finland introduced its own currency, the Finnish mark. Customs duties were reduced, and a railway network started to develop. The Estates were called in 1863 and were soon followed by municipal administration reform. Despite setbacks, such as the famine of 1866–68, the atmosphere was"
"people and companies are borrowing more than they can afford. During those hard times the main goal of the Bank of Finland was to maintain stable currency rate. Kullberg tied the currency rate of Finland's markka to ECU currency in 1991 in order to gain more stability. But finally Finland was forced to devaluate and eventually let its currency float in 1992. This was a serious setback to Kullberg and he wanted to resign from his post. However, the president of Finland Mauno Koivisto asked him to continue. In the April 1992 he made an early retirement after publicly disagreeing"
"Bank of Finland The Bank of Finland (, ) is the central bank of Finland. It is the fourth oldest central bank in the world. The Bank of Finland was established on 1 March 1812 in the city of Turku by Alexander I of Russia. In 1819 it was relocated to Helsinki. The Bank created and regulated the Finnish Markka until Finland adopted the euro in 1999. The Bank of Finland is Finland’s central bank and a member of the European System of Central Banks and of the Eurosystem. It is Finland's monetary authority, and is responsible for the country's"
"the value of the markka fluctuated within +23%/−16% of its initial value, but with no trend. However, the markka suffered heavy inflation (91%) during 1914–18. Gaining independence in 1917, Finland returned to the gold standard from 1926 to 1931. Prices remained stable until 1940. but the markka suffered heavy inflation (17% annually on average) during the war years and then up to 1926, and again in 1956–57 (11%). In 1963 the markka was replaced by the ""new markka"", equivalent to 100 old markkaa. Finland joined the Bretton Woods Agreement in 1948. The value of markka was pegged to the dollar"
"currency by several centuries, the currency was established before being named ""markka"". A competition was held for its name, and some of the other entries included ""sataikko"" (meaning ""having a hundred parts""), ""omena"" (apple) and ""suomo"" (from ""Suomi"", the Finnish name for Finland). With numbers, Finnish does not use plurals but partitive singular forms: """"10 markkaa"""" and """"10 penniä"""" (the nominative is ""penni""). In Swedish, the singular and plural forms of mark and penni are the same. When the euro replaced the markka, ""mummonmarkka"" ""grandma's markka"" (sometimes shortened to just ""mummo"") became a new slang term for the old currency."
"Spanish peseta The peseta (, ) was the currency of Spain between 1868 and 2002. Along with the French franc, it was also a ""de facto"" currency used in Andorra (which had no national currency with legal tender). The name of the currency comes from ""pesseta"", the diminutive form of the word ""peça"", which is a Catalan word that means piece or fraction. The first non-official coins which contained the word ""peseta"" were made in 1808 in Barcelona. Traditionally, there was never a single symbol or special character for the Spanish peseta. Common abbreviations were ""Pt"", ""Pta"", ""Pts"" and ""Ptas"","
"a referendum bid, to restore the lira in Italy. Italian lira The lira (; plural lire ) was the currency of Italy between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The term originates from the value of a pound weight () of high purity silver and"
"throughout the 1980s and the 1990s. The monetary policy called ""strong markka policy"" (""vahvan markan politiikka"") was a characteristic feature of the 1980s and early 1990s. The main architect of this policy was President Mauno Koivisto, who opposed floating the currency and devaluations. As a result, the nominal value of markka was extremely high and in the year 1990, Finland was nominally the most expensive country in the world according to OECD's Purchasing Power Parities report. Koivisto's policy was maintained only briefly after Esko Aho was elected Prime Minister. In 1991, the markka was pegged to the currency basket ECU,"
"the Bank of Finland, which Snellman pegged to silver instead of the ruble. During the Famine of 1866–68, Snellman worked to obtain aid and distribute it in a country with low resources and undeveloped communications. Elisabeth Järnefelt held the literary salon ”Järnefelts skola” (Järnefelt School), which became a center of the Fennoman movement. During the time 1880–1910 the golden age of Finnish art coincided with the national awakening. The central figure of the time was Akseli Gallen-Kallela. Other notable people were Aleksis Kivi and Albert Edelfelt. The fennoman motto was: The first period of Russification of Finland (Ensimmäinen sortokausi in"
"€1.60. Source: 25 krooni The 25 krooni banknote (25 EEK) is a denomination of the Estonian kroon, the former currency of Estonia. Anton Hansen Tammsaare (1870–1940), who was a famous Estonian writer of classical literature, is featured on the front side of the bill, which is why the 25 krooni banknote is often called a """"Tammekas or Tammsaare"""". A view of Vargamäe is featured on the reverse side of the banknote. Before the replacement of the EEK by the euro, the 25 krooni was frequently used in everyday transactions. It can be exchanged indefinitely at the currency museum of Eesti"
"Fyrk A fyrk was a monetary unit used in Sweden in the 15th to 17th century, with a value of between 1/6 and 1/2 öre. The word is derived from Middle Low German ""vereken"" (""vierichen"") and ultimately from ""ver"" or ""vier"", a monetary unit (from ""vier"", ""four""). After the monetary unit had been abolished, the word remained in use in the general sense of ""small money"", ""pennies"", ""an insignificant sum""; and as a slang word for ""money"" in Finnish Swedish as well as in Finnish as a dialectal loan word (""fyrkka""). With the Swedish municipal reform 1862, the unit fyrk"
"1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Finnish markka. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014 and Lithuania joined on 1 January 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to"
"at the currency museum of Eesti Pank for €0.13. Source: 2 krooni The 2 krooni banknote (2 EEK) is a denomination of the Estonian kroon, the former currency of Estonia. Karl Ernst von Baer, who was an Estonian anthropologist, naturalist and geographer (1792–1876), is featured with a portrait on the obverse. The 2 krooni bill is called sometimes a """"kahene"""" meaning ""a two"". A view of Tartu University which was founded in 1632 is featured on the reverse. Before the replacement of the EEK by the euro, the 2 krooni banknote was the smallest denomination most commonly used by Estonian"
"Austro-Hungarian gulden The Gulden or forint (, , , ) was the currency of the lands of the House of Habsburg between 1754 and 1892 (known as the Austrian Empire from 1804 to 1867 and the Austro-Hungarian Monarchy after 1867), when it was replaced by the Krone/korona as part of the introduction of the gold standard. In Austria, the Gulden was initially divided into 60 Kreuzer, and in Hungary, the forint was divided into 60 krajczár. The currency was decimalized in 1857, using the same names for the unit and subunit. The name ""Gulden"" was used on the pre-1867 Austrian"
"circulation. Coins in circulation before being replaced by the euro: Estonian kroon The kroon (sign: kr; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011. Between 1 January and 14 January 2011, the kroon circulated together with the euro, after which the euro became the sole legal tender in Estonia. The kroon was subdivided into 100 cents (""senti""; singular ""sent""). The word ""kroon"" (, “crown”) is related to that of the Nordic currencies (such as the Swedish krona and the Danish and Norwegian krone) and derived from the Latin word ""corona"" (""crown""). The"
"having an independent domestic state budget, a central bank with national currency, the markka (deployed 1860), and customs organisation and the industrial progress of 1860–1916. The economy was dependent on the huge Russian market and separation would disrupt the profitable Finnish financial zone. The economic collapse of Russia and the power struggle of the Finnish state in 1917 were among the key factors that brought sovereignty to the fore in Finland. Svinhufvud's Senate introduced Finland's Declaration of Independence on 4 December 1917 and Parliament adopted it on 6 December. The social democrats voted against the Senate's proposal, while presenting an"
"in 1876 and lasted until the beginning of World War I. The parties to the union were the Scandinavian countries, where the name was ""krona"" in Sweden and ""krone"" in Denmark and Norway, which in English literally means ""crown"". The three currencies were on the gold standard, with the krona/krone defined as of a kilogram of pure gold. After dissolution of the monetary union in August 1914, Sweden, Denmark, and Norway all decided to keep the names of their respective and now separate currencies. On 11September 2012, the Riksbank announced a new series of coins with new sizes to replace"
"2002. The euro coinage system entered circulation in Italy in 2002 and is currently the official currency. Upon the creation of the Kingdom of Italy under Vittorio Emanuele II (1861), a unified lira was established, at 4.5 grams of silver or 290.322 milligrams of gold. This was a direct continuation of the Sardinian lira. Other currencies replaced by the Italian lira included the Lombardy-Venetia pound, the Two Sicilies piastra, the Tuscan fiorino, the Papal States scudo and the Parman lira. In 1865, Italy formed part of the Latin Monetary Union in which the lira was set as equal to, among"
"Estonian kroon The kroon (sign: kr; code: EEK) was the official currency of Estonia for two periods in history: 1928–1940 and 1992–2011. Between 1 January and 14 January 2011, the kroon circulated together with the euro, after which the euro became the sole legal tender in Estonia. The kroon was subdivided into 100 cents (""senti""; singular ""sent""). The word ""kroon"" (, “crown”) is related to that of the Nordic currencies (such as the Swedish krona and the Danish and Norwegian krone) and derived from the Latin word ""corona"" (""crown""). The kroon succeeded the mark in 1928 and was in use"
"The sometimes used ""old markka"" can be misleading, since it can also be used to refer to the pre-1963 markka. In Helsinki slang, a hundred markkaa was traditionally called ""huge"" [hu.ge] (from Swedish ""hundra"" ""hundred""). After the 1963 reform this name was used for one new markka. When the markka was introduced, coins were minted in copper (1, 5 and 10 penniä), silver (25 and 50 penniä, 1 and 2 markkaa) and gold (10 and 20 markkaa). After the First World War, silver and gold issues were ceased and cupro-nickel 25 and 50 penniä and 1 markka coins were introduced"
"was exchangeable at commercial banks in the currency's nation for a further period, generally until 30 June 2002. However, even after the official dates, they continued to be accepted for exchange by national central banks for varying periods—and indefinitely in Austria, Germany, Ireland, and Spain. Coins from those four countries, Italy, and Finland remain exchangeable. The earliest coins to become non-convertible were the Portuguese escudos, which ceased to have monetary value after 31 December 2002, although banknotes remain exchangeable until 2022. All banknotes current on 1 January 2002 would remain valid until at least 2012. In Germany, Deutsche Telekom modified"
"and could be transferred by endorsement, and were accepted as payment. They could also be redeemed. This currency proved to be very stable. Following German unification in 1871, the country adopted the German gold mark (officially known just as the ""mark"") as its currency in 1873. The name was taken from the mark banco. Initially, the coins and banknotes of the various predecessor currencies, such as the , the , and the guilder, continued to circulate, and were treated as fixed multiples of the new unit of account, similarly to the introduction period of the euro between 1999 and 2002."
"denominations. This coinage continued to be issued until the introduction of the new markka in 1963. The new markka coinage consisted initially of six denominations: 1 (bronze, later aluminium), 5 (bronze, later aluminium), 10 (aluminium-bronze, later aluminium), 20 and 50 penniä (aluminium-bronze) and 1 markka (silver, later cupro-nickel). From 1972, aluminium-bronze 5 markka were also issued. The last series of Finnish markka coins included five coins (listed with final euro values, rounded to the nearest cent): This section covers the last design series of the Finnish markka, designed in the 1980s by Finnish designer Erik Bruun and issued in 1986."
"in 2009, Estonia in 2011, Latvia in 2014, and Lithuania in 2015. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender,"
"2 krooni The 2 krooni banknote (2 EEK) is a denomination of the Estonian kroon, the former currency of Estonia. Karl Ernst von Baer, who was an Estonian anthropologist, naturalist and geographer (1792–1876), is featured with a portrait on the obverse. The 2 krooni bill is called sometimes a """"kahene"""" meaning ""a two"". A view of Tartu University which was founded in 1632 is featured on the reverse. Before the replacement of the EEK by the euro, the 2 krooni banknote was the smallest denomination most commonly used by Estonian residents on an everyday basis. It can be exchanged indefinitely"
"T-shirts. As a final step, on 15 December 2001, banks began exchanging ""euro starter kits"", plastic pouches with a selection of the new coins in each country (generally, between 10 and 20 euros worth—though Finland's contained one of each coin, totalling €3.88). They would not be usable in commerce until 1 January, when notes would be made available as well. Larger starter kits, containing a roll of each denomination, were available as well in some nations. Retailers and government agencies had a considerable task as well. For items to be sold to the public, dual pricing was commonly utilised. Postage"
"dollar. After 1 January 1999, the rates are calculated from the Francs fixed conversion rate to the Euro. Between 1832 and 1834, copper 1, 2, 5 and 10 centime, silver , , 1, 2 and 5 franc, and gold 20 and 40 franc coins were introduced. Some of the early 1 and 2 centimes were struck over Dutch and 1 cent coins. The 40 franc was not issued after 1841, whilst silver francs and gold 10 and 25 francs were issued between 1848 and 1850. Silver 20 centimes replaced the franc in 1852. In 1860, cupro-nickel 20 centimes were introduced,"