Inspired by Iceland
In brief: possible Euro adoption set for 2014 at the earliest
Posted by Max Naylor on Monday, June 14, 2010
It wouldn’t be possible for Iceland to adopt the euro as its currency until some time after 2014 at the earliest, according to Gylfi Magnússon, the economy and business secretary.

Gylfi’s statement was made today in reply to an inquiry made by Unnur Brá Konráðsdóttir, a PM for the Independence Party, about a possible timetable for Iceland’s fulfilment of the Maastricht Treaty conditions for countries wishing to adopt the euro.

Gylfi anticipates an adjustment in the interest rate to be closer to that of the Eurozone in the lead-up to Iceland’s adoption of the currency. History shows that the same has happened in other countries before their take-up of the Euro.

Source: mbl.is
Image: 55Laney69

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3    
Blogger Unknown posted at 14 June 2010 at 17:54  
I thought that Iceland joining the EU was not yet decided and that it still had to go to a vote and that the majorit of Icelanders were against joining the EU?
Blogger Max Naylor posted at 14 June 2010 at 18:31  
I think this is part of a plan to try and adopt the Euro without joining the EU. This is all hypothetical at this point. Unfortunately the original article is unclear. I’ll try and research more into it.
Blogger Unknown posted at 14 June 2010 at 19:53  
It's ok. I was just making sure that I had my facts straight. Thanks! :-)

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