The krone is the official currency of Denmark and its dependent territories of the Faroe Islands and Greenland. The krone, when translated into English, means “crown”, so the currency is sometimes therefore referred to as the Danish Crown in English speaking nations. The value of the krone is pegged to that of the euro via the European Exchange Rate Mechanism (ERM), with the supposed intention of eventually joining the euro. However, like in the United Kingdom, this is a politically controversial issue. A referendum on joining the Eurozone in the year 2000 was narrowly defeated. There are therefore no current plans for Denmark to formally replace the krone with the euro.
In historical terms, the links between the United Kingdom and Denmark are strong, with just a short expanse of the North Sea separating Britain from its Scandinavian / European neighbour. The earliest found Danish coin has been dated to around 830AD, but the earliest more organised production of coins were minted around 150 years later, in the late 10th Century. As if to emphasise the close links between our countries, the first truly mass reproduction of Danish coins occurred in the 1020s, authorised by King Canute the Great: more famous this side of the waters for his misinterpreted attempt to hold back the tide.
It was a financial reorganisation in 1619, designed to restore trust in the official currency, which resulted in the adoption of the name “krone” for the first time. 1873 saw the advent of Scandinavian Monetary Union, whereby Denmark, Norway and Sweden combined their currencies in order to improve the trade links between them. The new currency was known as the “krone” in Denmark and Norway, but the “krona” in Sweden. The value of the new joint currency was linked to the International Gold Standard. This arrangement lasted until the outbreak of World War One, but in 1914, the gold standard was abandoned and the three currencies parted once again. All three nations decided to keep the names of their now entirely separate currencies.
The Danish krone remained independent until the occupation of World War Two saw it linked to the German mark. Post war, the value of the currency was linked to the British pound until the development of the European “common market” and the European Union saw links to the rest of Europe become more significant.
At the time of writing, the krone remains a member of the sub set of independent currencies, surviving in a Europe increasingly dominated by the euro. Like in the United Kingdom, there is a strong anti euro, and indeed anti EU sub current in Scandinavian politics, so that none of the original Scandinavian Monetary Union partners have signed up to the euro. The only Scandinavian country to have done so is Finland which, perhaps because of its wish to distance itself from its previous historical links to Russia, is keener to link up with the broader European currency.
Not many players on UK registered online bingo sites are likely to be using the Danish krone, but some sites do accept the currency, particularly those with strong European links. It is also true that bingo is particularly popular in its near neighbour and Scandinavian cousin Sweden, so we feel sure that the growing popularity of the game across the North Sea will mean that both krona and krone will be used increasingly at online bingo sites.
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