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97-557: Like the Nordic currencies (such as the Danish krone , Swedish krona and Norwegian krone ) that participated in the historical Scandinavian Monetary Union , the name króna (meaning crown ) comes from the Latin word corona ("crown"). The name "Icelandic crown" is sometimes used alternatively, for example in the financial markets. The Danish krone was introduced to Iceland in 1874, replacing

194-454: A Big Mac cost the equivalent of nearly US$ 6, versus $ 3.57 in the US. Theoretically, the adoption of the euro could have several advantages. Adopting what is perceived by some as a historically stronger currency might help Iceland to "avoid the turbulence surrounding speculations in international financial markets". In addition, Icelandic economists listed several arguments in favour of the euro before

291-732: A dependent territory . Little evidence remains in the Nordic countries of the Stone Age, the Bronze Age, or the Iron Age with the exception of a limited numbers of tools created from stone, bronze and iron, some jewelry and ornaments and stone burial cairns. However, one important collection that exists is a widespread and rich collection of stone drawings known as petroglyphs . The Goths , who originated in southern Scandinavia and would later divide into Visigoths and Ostrogoths , are known to have been one of

388-630: A retaliatory strike in conjunction with the German attack on the Soviet Union. However, more territory was lost and for many years to come Finnish foreign policy was based on appeasing the Soviet Union , even though Finland was able to retain its democratic form of government. Denmark and Norway were occupied by Germany in 1940. The Allies responded by occupying Iceland, the Faroe Islands and Greenland. Sweden managed to formally maintain its neutrality in

485-424: A 40- micron nozzle that outputs more than 100,000 drops per second of ink. While these printers make microprinting faster and easier to produce digitally, they still have not reached the true sub-pixel size of less than 1 point. The smallest scale microtext a laser printer can produce is 0.5 pt. Using gold nanoparticle inks on a glass substrate, scientists concluded that it was possible for them to control

582-642: A clear day. Even excluding Greenland and the Norwegian islands of Svalbard and Jan Mayen , the remaining part of the Nordic countries covers around 1.3 million square kilometres. This is about the same area as France, Germany and Italy together. To the south, the countries neighbor the Baltic states , Poland, Germany and the United Kingdom, while to the north there is the Arctic Ocean . Notable natural features of

679-519: A collapse of the Icelandic banking sector. The value of the Icelandic krona dropped, and on 7 October 2008 the Icelandic Central Bank attempted to peg it at 131 against the euro. This peg was abandoned the next day. The krona later dropped again and to 340 against the euro before trade in the currency was suspended (by comparison, the rate at the start of 2008 was about 90 krona to the euro). After

776-522: A heavy influence on the weather in the western coastal zones of Iceland, Norway, Denmark and Sweden. The precipitation is high and snow cover during winters is rare. Summers are generally cool. The further away that one gets from the Atlantic Ocean and the Gulf Stream the colder it gets during the winters. Finland, most of Sweden and the south-eastern part of Norway are influenced by the vast continent to

873-434: A long history of political unions and other close relations but do not form a singular entity today. The Scandinavist movement sought to unite Denmark, Norway and Sweden into one country in the 19th century. With the dissolution of the union between Norway and Sweden (Norwegian independence), the independence of Finland in the early 20th century and the 1944 Icelandic constitutional referendum , this movement expanded into

970-891: A major role in the establishment of the early-modern states in Denmark–Norway and Sweden. Sweden was very successful during the Thirty Years' War , while Denmark was a failure. Sweden saw an opportunity of a change of power in the region. Denmark–Norway had a threatening territory surrounding Sweden and the Sound Dues were a continuing irritation for the Swedes. In 1643, the Swedish Privy Council determined Swedish territorial gain in an eventual war against Denmark–Norway to have good chances. Not long after this, Sweden invaded Denmark–Norway. The war ended as foreseen with Swedish victory and with

1067-512: A meeting of the Icelandic Federation of Labour on 10 January 2012, said: As of 2018, Icelandic authorities had no plans to adopt a foreign currency. Nordic countries 2 autonomous territories 1 autonomous region 2 unincorporated areas 1 dependency 2 Antarctic claims The Nordic countries (also known as the Nordics or Norden ; lit.   '

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1164-415: A minimum cost of material and storage space. Over the following decade, Boni worked to develop microprint, a micro-opaque process in which pages were photographed using 35mm microfilm and printed on cards using offset lithography . ( U.S. patent 2260551A , U.S. patent 2260552A ) This process proved to produce a 6" by 9" index card that stored 100 pages of text from the normal-sized publications he

1261-569: A period of tentative, very low-volume international trading in the krona, activity had been expected to pick up again throughout November 2008, albeit still with low liquidity, as Iceland secured an International Monetary Fund loan. However, as of January 2009 the krona was still not being traded regularly, with the European Central Bank (ECB) reference rate being set only intermittently, the last time on 3 December 2008 at 290 krona per euro. The Icelandic krona similarly fell in value against

1358-542: A political dimension in the joint official bodies called the Nordic Council and the Nordic Council of Ministers. The Helsinki Treaty , signed on 23 March 1962 entered into force on 1 July 1962 and is the political agreement which sets the framework for Nordic cooperation. 23 March is celebrated as the "Nordic Day" as the treaty is sometimes referred to as the constitution of the Nordic cooperation. Several aspects of

1455-589: A poll by the Icelandic Chamber of Commerce put support for Iceland to abandon the krona for another currency at 63%. A number of companies in Iceland, such as Össur , have started to pay their employees in euros or US dollars, mainly due to the high inflation and high volatility. The financial crisis prompted further calls for Iceland to join the Eurozone. In January 2009, one senior Icelandic official stated that due to

1552-658: A series of plateaux and gently undulating plains . The western parts of the mountains are cut by fjords, producing a dramatic landscape. The landscape of Sweden can be described as a mixture of that of Norway, Finland and Denmark. Except at the High Coast the coastal areas of Sweden form lowlands. Sweden has three highland areas, the South Swedish Highlands , the Scandinavian Mountains and the Norrland terrain which

1649-467: A value of less than one krona should be withdrawn from circulation. In 2007, the eyrir formally ceased to exist as a subunit of the Icelandic króna. In 1981, coins were introduced in denominations of 5, 10 and 50 aurar (cents) , 1 krona and 5 krona. These were followed by 10 krona pieces in 1984, 50 krona in 1987 and 100 krona in 1995. Since 2003, Icelandic banks no longer accept any coins denominated in aurar (cents) . Icelandic banknotes are printed with

1746-469: A very high proportion of payments in Iceland are made electronically, e.g. by debit or credit cards or online bank transfers. The largest denomination banknote, the 10000 krona note ( €66.89/US$ 72.25 in August 2024 ), has a relatively low value; therefore, most of Iceland's high value trades are done in electronic transfers and in other currencies. In October 2008, the financial crisis of 2007–2008 brought about

1843-460: Is Keflavík International Airport (which has many transfer passengers), where the US dollar, euro and some other currencies are accepted by all merchants. Certain stores in central Reykjavík accept some foreign currencies. Iceland's per capita computer usage is among the highest in the world, far higher than the UK or US . The saturation of technology in Iceland has had ramifications in the monetary system:

1940-496: Is a little lower than the United States, but higher than Canada. In round figures, Iceland's population density resembles Canada's. This list includes dependent territories within their sovereign states (including uninhabited territories), but does not include claims on Antarctica . EEZ+TIA is exclusive economic zone (EEZ) plus total internal area (TIA) which includes land and internal waters. The Kingdom of Denmark includes

2037-404: Is a strong consensus about keeping to the general concept. A central theme in the Nordic model is the "universalist" welfare state aimed specifically at enhancing individual autonomy, promoting social mobility and ensuring the universal provision of basic human rights, as well as for stabilising the economy. In this model welfare is not just aid to those who are in need of it, but a central part of

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2134-518: Is hardly any wild nature left. Most of the scarce forests are plantations and nearly 60 per cent of Denmark's total area is cultivated or zoned as gardens or parks. On the other hand, in the other Nordic countries there is much wild nature left. Only between 0 and 9 per cent of the land in the other Nordic countries is cultivated. Around 17 per cent of the land area in Iceland is used for permanent meadows and pastures and both Finland, Norway as well as Sweden have large forest areas. The Nordic region has

2231-720: Is not represented in the territory concerned, according to the Helsinki Treaty. Since 25 March 2001, the Schengen acquis has fully applied to the five countries of the Nordic Passport Union (except for the Faroe Islands). There are some areas in the Nordic Passport Union that give extra rights for Nordic citizens, not covered by Schengen, such as less paperwork if moving to a different Nordic country and fewer requirements for naturalisation . Microprint Microprinting

2328-638: Is only producible by hand using engraved offset printing plates or some other method of intaglio (printmaking) . Digital microtext printers utilize specially designed fonts and ink for the purpose. The ink used is most commonly MICR (Magnetic Ink Character Recognition) toner particles but may also be polyester based toners and styrene acrylate polymer based toners. The ink is not limited to grayscale only, but may also use color toners or even more specialized toners containing dyes sensitive to ultraviolet or infrared radiation and producing fluorescence when exposed to those radiations. Microprint of

2425-587: Is predominantly used as an anti-counterfeiting technique, due to its inability to be easily reproduced by widespread digital methods. While microphotography precedes microprint, microprint was significantly influenced by Albert Boni in 1934 when he was inspired by his friend, writer and editor Manuel Komroff , who was showing his experimentations related to the enlarging of photographs. It occurred to Boni that if he could reduce rather than enlarge photographs, this technology might enable publication companies and libraries to access much greater quantities of data at

2522-414: Is printed with SÍ in microprint . The 22 May 2001 series, saw substantial changes. The underprint and microprint features of the 2000 krona note were extended to other denominations. The 1000 and 5000 krona notes also received metallic foils next to the portrait. In 2013, a new 10000 krona banknote was introduced. The face of natural scientist and poet Jónas Hallgrímsson appears on the bill, as well as

2619-481: Is reputed to be the oldest working parliament in the world. However, it was dissolved for much of the first half of the 19th century. In Denmark, Iceland and Sweden elections are held at least once every four years. Finland, Åland and Norway have fixed four-year election periods. Elections in the Faroe Islands and Greenland follow the Danish system of elections. The Danish Folketing has 179 seats, including two seats each for

2716-537: Is the eastern continuation of the Scandinavian Mountains. The South Swedish Highland and the Norrland terrain are separated by the Central Swedish lowland . The topography of Iceland stands out among the Nordic countries for being a bowl-formed highland. Despite their northern location, the Nordic countries generally have a mild climate compared with other countries that share globally the same latitudes. The climate in

2813-434: Is the production of recognizable patterns or characters in a printed medium at a scale that typically requires magnification to read with the naked eye. To the unaided eye, the text may appear as a solid line. Attempts to reproduce by methods of photocopy , image scanning , or pantograph typically translate as a dotted or solid line, unless the reproduction method can identify and recreate patterns to such scale. Microprint

2910-503: The Seðlabanki Íslands became the central bank of Iceland and started issuing paper money, in denominations of 10, 25, 100, and 500 krona. They were manufactured in England by De la Rue . In 1981, the Icelandic krona was revalued , due to high inflation, with 100 old krona (ISJ) being worth 1 new krona (ISK) and a new 500 krona banknote was first put into circulation in 1981. The 1000 krona

3007-511: The Eurasian golden plover . Notes of 100 krona or less are no longer in circulation, as they have been withdrawn by the central bank. Iceland is not a member of the European Union and does not use the euro . The Icelandic currency is a low-volume world currency, strongly managed by its central bank. Its value in terms of other currencies has historically been swift to change, for example against

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3104-579: The European Free Trade Association (EFTA). All the Nordic countries are however members of the European Economic Area (EEA). Following the dissolution of the Soviet Union in the 1990s, Nordic countries began partnerships with newly liberated neighbouring Baltic states ( Estonia , Latvia and Lithuania ) by opening Nordic council of ministers' offices in the three countries. The Baltic Assembly started to work together with

3201-634: The Germanic people that would later relate to the fall of the Western Roman Empire and the emergence of Medieval Europe . However, these acquired the Latin culture of Rome . The Nordic countries first came into more permanent contact with the rest of Europe during the Viking Age . Southern Finland and northern parts of Sweden and Norway were areas where the Vikings mostly only traded and had raids, whilst

3298-782: The Landssjóður Íslands were in denominations of 5, 10 and 50 krona. In 1904, the Bank of Iceland ( Íslands Banki ) took over note production and introduced 100 krona notes. In 1921, the Ríkissjóður Íslands began issuing paper money, with notes for 1, 5, 10 and 50 krona. In 1928, another bank, the Landsbanki Íslands , took over issuance of denominations of 5 krona and above, with the Ríkissjóður Íslands continuing to issue 1 krona notes until 1947. The Landsbanki Íslands introduced 500 krona notes in 1935, followed by 25 and 1000 krona notes in 1957. In 1961,

3395-569: The Protestant Reformation , the main religion became Lutheran Christianity , the state religion of several Nordic countries. Although the area is linguistically heterogeneous, with three unrelated language groups, the common linguistic heritage is one factor that makes up the Nordic identity. Most Nordic languages belong to North Germanic languages , Finno-Ugric languages and Eskimo–Aleut languages . Danish , Norwegian and Swedish are considered mutually intelligible , and they are

3492-465: The Russian invasion of Ukraine , Finland joined NATO in 2023 as did Sweden a year later. The Nordic countries and self-governing regions in alphabetic order – number of inhabitants (2018), area (km ) and population density (people/km ): Denmark is by far the most densely populated country, whilst Sweden, Norway and Finland are low populated and similar to each other from this perspective. Iceland has both

3589-511: The Schengen Area and only a national ID card is required. Within the Nordic area any means of proving one's identity, e.g. a driving licence , is valid for Nordic citizens because of the Nordic Passport Union. When traveling to other countries than the Nordics, public officials in the foreign services of any of the Nordic countries are to assist citizens of another Nordic country if that country

3686-521: The Treaty of Brömsebro in 1645 Denmark–Norway had to cede some of their territories, including Norwegian territories Jemtland , Herjedalen and Idre and Serna , as well as the Danish Baltic Sea islands of Gotland and Ösel . The Thirty Years' War thus began the rise of Sweden as a great power , while it marked the start of decline for the Danish. To some extent in the 16th century and certainly in

3783-539: The US and Canadian dollars , and the other Nordic currencies ( Swedish krona , Norwegian krone , Danish krone ), and the euro. For example, during the first half of 2006, the Icelandic krona ranged between 50 and 80 per US dollar. Prior to the currency's collapse in October 2008, the krona was considered overvalued. In most shops electronic payment is accepted. Other currencies are very rarely accepted in Iceland. A notable exception

3880-659: The common market as in the EU have been implemented decades before the EU implemented them. Intra-Nordic trade is not covered by the United Nations Convention on Contracts for the International Sale of Goods (CISG), but by local law. The Nordic countries have cooperated closely in the administrative and consular fields since the Nordic Passport Union was established and the Helsinki Treaty concluded. According to

3977-632: The human eye without microscopy , there is no differentiation between microprinting at these different scales. The first US postage stamp to incorporate microprinting was the American Wildflower Series introduced by The United States Postal Service in 1992. It was also the first commemorative stamp wholly produced by offset lithography. The USPS has since issued other stamps with more complex microprinting incorporated along with dates, words, and abbreviations such as USPS and even entire stamp designs composed of microprint letters. There

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4074-487: The 11th century, three northern kingdoms emerged in the region: Denmark, Norway and Sweden. Iceland first became a commonwealth before it came under Norwegian rule in the early 13th century. There were several secular powers who aimed to bring Finland under their rule, but through the Second and Third Swedish Crusade in the latter part of 13th and through the colonisation of some coastal areas of Finland with Christian Swedes,

4171-532: The 17th, the Nordic region played a major role in European politics at the highest level. The struggle for dominion over the Baltic Sea and its trading opportunities raged between Denmark–Norway and Sweden, which began to impact upon the neighbouring nations. Sweden prevailed in the long term and became a major European power as it extended its reach into coastal tracts in modern-day Russia, Estonia, Latvia, and – following

4268-752: The Axis/Allies conflict and avoided direct hostilities, but in practice it adapted to the wishes of the dominant power – first Germany, later the Allies. However, during the Winter War between Finland and Russia in 1939–1940, Sweden did support Finland and declared itself "non combatant" rather than neutral. Compared with large parts of Europe, the Nordic region got off lightly during the World War II, which partially explains its strong post-war economic development. The labour movement – both trade unions and political parties –

4365-578: The Danish krone, which saw the beginning of an independent monetary policy in Iceland, and was to be the first of many subsequent devaluations of the krona. In 1925 the krona was pegged to the British pound for the next 14 years until the spring of 1939. Later in 1939 the currency was pegged to the US dollar , which was maintained until 1949. Iceland's first coins were 10 and 25 aurar pieces introduced in 1922. These were followed in 1925 by 1 krona and 2 krona pieces and in 1926 by 1, 2 and 5 aurar pieces. In 1946,

4462-437: The Faroe Islands and Greenland, which had been re-colonised in the 18th century, became Danish. Population growth and industrialisation brought change to the Nordic countries during the 19th century and new social classes steered political systems towards democracy. International politics and nationalism also created the preconditions for the later independence of Norway in 1905 , Finland in 1917 and Iceland in 1944 . During

4559-689: The Faroe Islands and Greenland. The Finnish Eduskunta has 200 seats, including one seat for Åland. The Icelandic Althing has 63 seats, the Norwegian Storting 169 seats and the Swedish Riksdag 349 seats. The Faroese Løgting has 32 seats, Greenland's Inatsisartut 31 seats and Åland's Lagtinget 30 seats. Nordic citizens – and in the three member countries of the EU also EU citizens – living in another Nordic country are normally entitled to vote in local government elections after three months of residence, while other foreign citizens have to reside in

4656-417: The Helsinki Treaty, public officials in the foreign services of any of the Nordic countries are to assist citizens of another Nordic country if that country is not represented in the territory concerned. Nordic cooperation is based on the Helsinki Treaty. Politically, Nordic countries do not form a separate entity, but they cooperate in the Nordic Council and the Nordic Council of Ministers . The council

4753-510: The Nordic Council to form the Nordic-Baltic Eight in 1992, while big Baltic companies were bought by Nordic companies in sectors such as banking or telecommunications. In 1999, Estonia started to promote its Nordic heritage (see Nordic identity in Estonia ) while government of Sweden expressed regrets regarding the deportation of Estonian and Latvian soldiers to USSR in 1946. Following

4850-511: The Nordic countries are members of NATO. The Nordic foreign and security policy cooperation became closer and expanded its scope in 2014. The Nordic Council of Ministers is responsible for inter-governmental cooperation. Prime ministers have ultimate responsibility, but this is usually delegated to the Minister for Nordic Cooperation and the Nordic Committee for Co-operation, which coordinates

4947-446: The Nordic countries are situated on the southern parts of the region, with the exception of Reykjavík , the capital of Iceland. Helsinki , Oslo and Stockholm are all close to the same latitude as the southernmost point of Greenland, Egger Island ( Itilleq ): about 60°N . All of Denmark and most of Finland lie below 200 m and the topography of both is relatively flat. In Denmark, moraines and tunnel valleys add some relief to

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5044-493: The Nordic countries for three to four years before they are eligible to vote. In Denmark and the Faroe Islands, the percentage turn-out at elections is close to 90% per cent, but it is only about 67% in Åland and Finland. Men are more often elected to the national assembly compared to women. The biggest bias between the two sexes is seen in the Faroe Islands and Åland, while in Sweden men and women are close to being equally represented in

5141-681: The Nordic countries include the Norwegian fjords , the Archipelago Sea between Finland and Sweden, the extensive volcanic and geothermal activity of Iceland , and Greenland, which is the largest island in the world. The southernmost point of the Nordic countries is Gedser , on the island of Falster in Denmark. The northernmost point is Kaffeklubben Island in Greenland, which is also the northernmost point of land on Earth. The largest cities and capitals of

5238-522: The Nordic countries is mainly influenced by their northern location, but remedied by the vicinity to the ocean and the Gulf Stream which brings warm ocean currents from the tip of Florida. Even far to the north, the winters can be quite mild, though north of the Polar Circle the climate zone is mostly subarctic with harsh winters and short summers. In Greenland and Svalbard the climate is polar. The sea has

5335-534: The Nordic countries' borders without having their passport checked, but still have to carry some sort of approved travel identification documents. During the 2015 European migrant crisis , temporary border controls were set up between Denmark and Sweden to control the movement of refugees into Sweden. Since 1996, these countries have been part of the larger EU directive Schengen Agreement area, comprising 30 countries in Europe. Border checkpoints have been removed within

5432-445: The Nordic model of economy and social structure to varying degrees. This includes a mixed market economy combined with strong labour unions and a universalist welfare sector financed by high taxes, enhancing individual autonomy and promoting social mobility . There is a high degree of income redistribution, commitment to private ownership and little social unrest. North Germanic peoples , who comprise over three-quarters of

5529-499: The Nordic region was politically united in the loose Kalmar Union . Diverging interests and especially Sweden's dissatisfaction over the Danish dominance gave rise to a conflict that hampered the union from the 1430s onward until its final dissolution in 1523. After the dissolution Denmark and Norway, including Iceland, formed a personal union of the two kingdoms called Denmark–Norway whilst the successful period of Vasa Kings began in Sweden and Finland. The Lutheran Reformation played

5626-650: The North ' ) are a geographical and cultural region in Northern Europe and the North Atlantic . It includes the sovereign states of Denmark , Finland , Iceland , Norway and Sweden ; the autonomous territories of the Faroe Islands and Greenland ; and the autonomous region of Åland . The Nordic countries have much in common in their way of life, history , religion and social and economic model . They have

5723-582: The Presidency of the Council of the European Union that Iceland should not be seen as candidate state, and that there were no specific plans to continue any membership process. Leaders of the ruling government parties have also stated that the krona will remain as Iceland's currency for at least the foreseeable future. Some small countries, such as El Salvador , Ecuador and Montenegro , have unilaterally adopted

5820-408: The Swedish rule was gradually established in the region. During the Middle Ages , increased trade meant that the Nordic countries became increasingly integrated into Europe and Nordic society became more Continental . The monarchies strengthened their positions in the 12th and 13th centuries through imposing taxes on peasants and a class of nobles also emerged. By the Late Middle Ages, the whole of

5917-430: The Thirty Years' War – also into Pomerania and other North German areas. Sweden also conquered vast areas from Denmark–Norway during the Northern Wars in the middle of the 17th century. Sweden also had several conflicts with Russia over Finland and other eastern areas of the country and after the Great Northern War (1700–1721) Sweden lost most of its territories outside the old Swedish border to Russia which then became

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6014-468: The US dollar, from around 50 to 80 per dollar to about 110–115 per dollar; by mid-November 2008 it had continued to lower to 135 to the dollar. As of 2 April 2009, the value hovered around 119 per dollar, roughly maintaining that value over the next two years with 23 March 2011, prices around 114 per dollar. With this, the previously high costs for foreign traders and tourists dropped, which Iceland's trade and tourism industry undertook to exploit. In July 2008,

6111-400: The advent of Foreningen Norden . The term is derived indirectly from the local term Norden , used in the North Germanic (Scandinavian) languages , which means 'The North(ern lands)'. Unlike the Nordic countries , the term Norden is in the singular. The demonym is nordbo , literally meaning 'northern dweller'. Similar or related regional terms include: Norga Italics indicates

6208-433: The coins' designs were altered to remove the royal monogram (CXR), following abolition of the Icelandic monarchy (which had formed a personal union with Denmark) in 1944. Starting in 1967, new coins were introduced due to a considerable fall in the value of the krona. 10 krona coins were introduced in that year, followed by 50 aurar and 5 krona pieces in 1969 and 50 krona pieces in 1970. The first notes issued in 1885 by

6305-480: The countries are among the wealthiest worldwide and there is little social unrest. In 2015, Save the Children ranked the Nordic countries as number 1–5 of countries where mothers and children fare the best (among 179 countries studied). Nordic parliaments are all based on a one-chamber system . The Norwegian parliament, the Storting , did actually function as two separate chambers until 2009 when dealing with certain issues. The Icelandic Althing , founded in 930 AD,

6402-408: The crisis "the krona is dead. We need a new currency. The only serious option is the euro." In March 2009, a report by Iceland's Minister for Foreign Affairs, Össur Skarphédinsson, considered three options: retaining the krona, adopting the euro without joining the EU and adopting the euro through EU membership. The report recommended the third option. An economic study of the impact of the adoption of

6499-418: The crisis. "In terms of growth potentials and welfare, the euro could be expected to bring lower long-term interest rates [...]. This would of course increase capital investment and labour productivity. The euro might lower consumer prices by facilitating a comparison with other euro countries." Because of the volatility between the euro and the krona, former Foreign Minister Valgerður Sverrisdóttir considered

6596-407: The dates from which the legal basis of the currency derives. In 1981, notes were issued in denominations of 10, 50, 100 and 500 krona based on the law of 29 March 1961. 1000 krona notes were introduced in 1984, followed by 5000 krona notes in 1986 with the same law. 100, 500, and 1000 krona notes were reissued in 1994 under the law of 5 May 1986. In the following year, a new denomination of 2000 krona

6693-481: The day-to-day work. The autonomous territories have the same representation as states. The Nordic countries share an economic and social model, which involves the combination of a market economy with a welfare state financed with heavy taxes. The welfare states were largely developed by strong social democrat parties and in Finland with cooperation with the Agrarian League . Although the specifics differ between countries and there are ongoing political arguments, there

6790-403: The earlier Danish currency, the rigsdaler . In 1885, Iceland began issuing its own banknotes. The Icelandic krona separated from the Danish krone after the dissolution of the Scandinavian Monetary Union at the start of World War I and Icelandic sovereignty from Denmark in 1918. The first coins were issued in 1922. Iceland was forced to devalue the Icelandic krona in 1922, by 23% against

6887-445: The east which results in warm and long summers and clear and cold winters, often with snow. For example, Bergen at the west coast of Norway normally has a temperature above zero in February while Helsinki in Finland normally will have a temperature of 7–8 °C below zero during the same month. Climatic conditions and quality of land have determined how land is used in the Nordic countries. In densely populated mainland Denmark there

6984-505: The euro by Iceland found that the Icelandic krona acts both as a barrier and buffer to international trade, and that by joining the EU and adopting the euro, Icelandic international trade might be 60% higher. In July 2009, the Alþingi (parliament) narrowly voted to apply for EU membership, but that application has been frozen since 2013 (see accession of Iceland to the European Union ). In March 2015, Icelandic authorities announced by letter to

7081-515: The feasibility of adopting a foreign currency. The idea of adopting the Canadian dollar was popular and the Canadian ambassador to Iceland stated that Iceland could adopt the currency if it so wished. Canada was favoured due to its northern geography and similar resource based economy, in addition to its relative economic stability. Arnór Sighvatsson, Deputy Governor of the Central Bank of Iceland, at

7178-463: The home-rule ( hjemmestyre ) territory of the Faroe Islands and the self-rule ( selvstyre ) territory of Greenland . The Nordic countries have a combined area of around 3.5 million square kilometres and their geography is extremely varied. The area is so vast that it covers five time zones . To the east the region borders Russia, and on the west the Canadian coastline can be seen from Greenland on

7275-565: The idea that Iceland might dollarize itself into the Eurozone without joining the European Union. Opinion regarding the euro is mixed among Icelanders. An opinion poll about Iceland joining the European Union released on 11 September 2007 showed that 53% of respondents were in favour of adopting the euro, 37% opposed and 10% undecided. Another poll produced for the Icelandic newspaper Fréttablaðið and released on 30 September 2007 showed 56% opposed to euro adoption and 44% in favour. In January 2008,

7372-468: The landscape while in Finland the surroundings of lakes Pielinen and Päijänne display some moderate relief. The Finnish area just east of Bothnian Bay stands out as the largest plain in the Nordic countries. The Scandinavian Mountains dominate the landscape of Norway. The southern part of the Scandinavian Mountains is broader than the northern one and contains higher peaks. The southern part contains also

7469-485: The life of everybody: education is free, healthcare has zero or nominal fees in most cases, most children go to municipal day care, etc. The Nordic model is distinguished from other types of welfare states by its emphasis on maximising labour force participation, promoting gender equality, egalitarian and extensive benefit levels, the large magnitude of income redistribution and liberal use of expansionary fiscal policy. Trade unions are strong. The model has been successful:

7566-411: The lowest population and by far the lowest population density. But large areas in Finland, Norway and Sweden, like most of Iceland, are unpopulated. There are no such areas in Denmark. Denmark has a population density around continental average, higher than for instance France and Poland but lower when compared to the United Kingdom, Italy or Germany. Finland, Norway and Sweden has a population density that

7663-582: The modern organised Nordic cooperation. Since 1962, this cooperation has been based on the Helsinki Treaty that sets the framework for the Nordic Council and the Nordic Council of Ministers . The Nordic countries cluster near the top in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life and human development. Each country has its own economic and social model, sometimes with large differences from its neighbours. Still, they share aspects of

7760-472: The national assembly. The Nordic Passport Union, created in 1954 and implemented on 1 May 1958, allows citizens of the Nordic countries: Denmark (Faroe Islands included since 1 January 1966, Greenland not included), Sweden, Norway (Svalbard, Bouvet Island and Queen Maud Land not included), Finland and Iceland (since 24 September 1965) to cross approved border districts without carrying and having their passport checked. Other citizens can also travel between

7857-665: The new major power in Northern Europe. After the Napoleonic Wars (1803–1815), the political map of the Nordic countries altered again. In 1809, Finland was conquered by Russian Empire from Sweden in the Finnish War , after which Finland became the autonomous Grand Duchy of Finland . In turn, Sweden captured Norway from Denmark in 1814 in the Swedish–Norwegian War and started a Union between Sweden and Norway . Iceland,

7954-414: The permanent settlements of Vikings in the Nordic region were in southern Norway and Sweden, Denmark and Faroes as well as parts of Iceland, Greenland and Estonia . Christian Europe responded to the raids and conquest of Vikings with intensive missionary work. The missionaries wanted the new territories to be ruled by Christian kings who would help to strengthen the church. After conversion to Christianity in

8051-530: The region had over 27 million people. Especially in English, Scandinavia is sometimes used as a synonym for the Nordic countries, but that term more properly refers to the three monarchies of Denmark, Norway and Sweden. Geologically, the Scandinavian Peninsula comprises the mainland of Norway and Sweden and the northernmost part of Finland. The term Nordic countries found mainstream use after

8148-643: The region's population, are the largest ethnic group, followed by the Baltic Finnic Peoples , who comprise the majority in Finland; other ethnic groups are the Greenlandic Inuit , the Sami people and recent immigrants and their descendants. Historically, the main religion in the region was Norse paganism . This gave way first to Roman Catholicism after the Christianisation of Scandinavia . Then, following

8245-550: The relative representation of the political parties in those parliaments. It holds its main session in the autumn, while a so-called "theme session" is arranged in the spring. Each of the national delegations has its own secretariat in the national parliament. The autonomous territories – Greenland, the Faroe Islands and Åland – also have Nordic secretariats. The Council does not have any formal power on its own, but each government has to implement any decisions through its country's legislative assembly. All of

8342-682: The scale capable by other printing methods cannot be produced by a digital printer regardless of the resolution of the device. Some digital fonts are designed specifically for the purpose of microprinting. These pseudo-microprint fonts are referred to as microtext. Xerox was acclaimed for developing a microtext font they claimed could produce characters 1/100 of an inch tall (equivalent to 0.72 points ). In April 2015, Videojet Technologies released their 1650 High Resolution (HR) and 1620 HR Continuous Inkjet (CIJ) printers, said to be capable of printing sub-pixel size characters as small as 0.6 mm in height (equivalent to 1.70079 points). The printers use

8439-455: The series 2004 United States $ 20 bill , microprint is hidden within the border in the lower left corner of the obverse (front) side, as well as the Twenty USA background. Bank cheques , as well as various other items of value may also commonly leverage microprinting methods, but generally not of such extreme size. For example, personal bank cheques commonly place the characters MP next to

8536-438: The signature line of the cheque; these characters represent microprint and indicate that the signature line or other cheque features are actually microprinted characters. The microprinted characters are used as an anti-counterfeiting feature due to their difficulty in being reproduced while the prominent MP serves as an overt deterrent warning that the item employs microprint. While microprinting at some scales may be readable to

8633-543: The two world wars and the Cold War , the five small Nordic states were forced into difficult balancing acts, but retained their independence and developed peaceful democracies. The Nordic states had been neutral during World War I , but during World War II they could no longer stand apart from world politics. The Soviet Union attacked Finland in 1939 and Finland ceded territory following the Winter War . In 1941, Finland launched

8730-416: The use of a more stable foreign currency as a means of controlling inflation. The cost of this is generally very high, as the adopting country loses all control over monetary policy, and all the benefits of seignorage . A currency board is a second tier solution, where the exchange rate of the currency is fixed to that of another country, or a "basket" of currencies . There was a discussion in 2012 about

8827-503: The working languages of the region's two political bodies. Swedish is a mandatory subject in Finnish schools and Danish in Faroese schools. Danish is also taught in schools in Iceland. The combined area of the Nordic countries is 3,425,804 square kilometres (1,322,710 sq mi). Uninhabitable ice caps and glaciers comprise about half of this area, mainly Greenland. In September 2021,

8924-649: Was an important political presence throughout the Nordic countries in the 20th century. The big social democratic parties became dominant and after World War II the Nordic countries began to serve as a model for the welfare state. Economically, the five Nordic countries were strongly dependent on foreign trade and so they positioned themselves alongside the big trading blocks. Denmark was the first to join European Economic Community (EEC) in 1972 and after it became European Union (EU) in 1993 Finland and Sweden also joined in 1995. Norway and Iceland are members of

9021-779: Was established after World War II and its first concrete result was the introduction of a Nordic Passport Union in 1952. This resulted in a common labour market and free movement across borders without passports for the countries' citizens. In 1971, the Nordic Council of Ministers, an intergovernmental forum, was established to complement the council. The Nordic Council and the Council of Ministers have their headquarters in Copenhagen and various installations in each separate country, as well as many offices in neighbouring countries. The headquarters are located at Ved Stranden No. 18, close to Slotsholmen. The Nordic Council consists of 87 representatives, elected from its members' parliaments and reflecting

9118-404: Was issued for the first time. The 2000 krona note is subtly different from the other notes. For example, the underprint pattern extends all the way upward and downward, while the other denominations had white margins on every side. The number 2000 is printed in multi color for 3 of the 4 occurrences. And the numeral 2000 on the lower left corner of reverse is vertical. The "shadow" of the numeral

9215-402: Was passing interest in microprinting as a solution to book storage in libraries in the 1940s. Librarian Fremont Rider championed microprinting over micro-film for its reduced cost. He also suggested that entire books could be printed on the backs of library catalog cards, which are generally blank, replacing the storage of full-sized books on library shelves. Microprint of the smallest scale

9312-580: Was put into circulation in 1984 and the 5000 krona in 1986. The 2000 krona banknote was put into circulation in 1995 but never became very popular. The 10,000 krona banknote was put into circulation in 2013. Coins of less than one krona have not circulated for many years. In September 2002, Davíð Oddsson , the Icelandic Prime Minister at the time, signed two regulations decreeing that all monetary amounts on invoices and financial claims should be stated and paid in whole krona only and that coins with

9409-609: Was reproducing. Boni began the Readex Microprint company to produce and license this technology. He also published an article A Guide to the Literature of Photography and Related Subjects (1943) , which appeared in a supplemental 18th issue of the Photo-Lab Index. Currency commonly exhibits the highest quality (smallest size) of microprint because it demands the highest level of counterfeiting deterrence. For example, on

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