Estonia attained independence in 1918 after centuries of Danish, Swedish, German, and Russian rule, but the Eastern European country lost its freedom again in 1940 when it was forcibly incorporated into the USSR. Estonia regained its independence in 1991 with the collapse of the Soviet Union. Since independence, Estonia has pursued economic reforms and integration with the West. Estonia formally joined the EU in May of 2004, and its commitment to prudent macroeconomic policies, structural reforms, and regional integration has resulted in the fastest convergence among new EU member states and a significant increase in living standards.