Iceland's Prime Minister Keeps Loonie Option Open

Faced with popular discontent over her countryâs talks to join the European Union, Icelandâs prime minister appears to have opened the door to the island nationâs adoption of the Canadian dollar as an alternative. In a speech at a party convention Saturday, Icelandic Prime Minister Johanna Sigurdardottir sounded the death knell for the Icelandic krona, saying her country faced a choice between âsurrendering the sovereignty of Iceland in monetary policy by unilaterally adopting the currency of another country or becom[ing] a member of the EU.â That is the clearest sign yet that Icelandâs government may be open to ideas other than joining the EU, and taking seriously public opinion polls showing a majority of Icelanders oppose the EU, while many support the idea Iceland should unilaterally adopt the Canadian dollar. A recent poll found that more than 56 per cent of Icelanders oppose EU accession in the wake of the debt crises that have rocked Greece and other eurozone members.

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Iceland's Prime Minister Keeps Loonie Option Open

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