Iceland adopting the Euro?

December 2, 2008

Looks like Iceland is now desperate enough to adopt the Euro. Catch is, without actually joining the EU. FIshing limits, whaling bans, that sort of thing. Now, Iceland could just adopt the Euro unilaterally I guess, the way Panama or Ecuador decided to adopt the US Dollar as their currency, and the US Congress did not need to approve.

If Iceland does this, the krona I have from last trip there will be worthless, and I’m betting the exchange rate from the government to convert them into Euros won’t be very good. Maybe they’ll just be souvenirs.

Sucks right now in Iceland, I have to say:

The economy is expected to contract 10 percent next year, unemployment is set to soar, and consumer confidence has plummetted.


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