Icelandic Crown Will Strengthen - The Reykjavik Grapevine

Icelandic Crown Will Strengthen

Published April 17, 2009

The Icelandic crown is starting to show signs of strengthening, and will continue to do so. Such is the conclusion of Björgvin G. Sigurðsson, the chairman of the Economics and Tax Committee. Speaking in parliament yesterday, Sigurðsson added that what is most important at the moment is tying the crown to stable, long-term bonds.
Conservatives were not so easily convinced. MP Pétur H. Blöndal countered that the fall of the crown in the previous months has been a source of great worry for families in this country, and that inflation is predicted to rise.
The crown actually has been very gradually strengthening, as has been inflation and unemployment. The Directorate of Labor predicts that unemployment will level off at some point later this spring.

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