EU

ICELAND CONSIDERS DUMPING OWN CURRENCY IN FAVOR OF CANADIAN DOLLAR………

 

And the Icelanders think that entering the EU and accepting its Euro won’t end their sovereignty? Really?

BY NIKOLAJ NIELSEN

BRUSSELS – Iceland’s Prime Minister Johanna Siguardardottir has said the tiny Nordic country faces a choice between using the Canadian dollar or the euro.

“The choice is between surrendering the sovereignty of Iceland in monetary policy by unilaterally adopting the currency of another country, or becoming a member of the EU,” she said in a speech at the Social Democrat Alliance party convention on Saturday (10 March) in Reykjavik.

A spokesman for the country’s foreign ministry on Wednesday clarified that, for her part, EU membership is the best option.

Iceland is expected to hold a referendum on EU membership early next year, but the euro-crisis has shaken confidence in the Union as an economic safe haven.

More here.

H/T: Fjordman

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