News - Economics / markets
Iceland’s finance minister said the country is still committed to adopting the euro despite fears over the stability of the single currency.
Oddny Hardardottir told Bloomberg she is "not concerned about the future of the euro", and said Iceland would meet deficit requirements for eurozone entry in the coming years.
"The demand is that countries become more disciplined in their economic management. That is something we should also take to heart, although we have shown great effort and performance in that regard following the economic collapse," Hardardottir said.
The country began talks over switching to the euro in 2010, after experiencing a serious economic collapse at the height of the financial crisis in 2008.
Iceland's banks defaulted on $85bn in debt that year and the country has just completed a near three-year restructuring programme overseen by the IMF.
Categories: Economics / Markets
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Iceland wants to join the euro - really!!??
Unbelievable!! If there is any thing this crisis has taught us it is the benefit of foating exchange rates and having a national central bank. Iceland's economy is recovering nicely so why on earth would they want to shackle themselves to the euro? I wouldn't mind betting the Icelandic people will tell their politicians where to go!!
Posted by: Duncan Jones
05 Jan 2012 | 12:44
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