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A Bad Year for the Icelandic Króna?
The Icelandic króna has continued to weaken against the euro throughout this year, reaching its weakest level last Wednesday when one euro was equivalent to approximately ISK 165, RÚV reports. Today, one euro is equivalent to approximately ISK 160, a rapid strengthening…
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EU Position On Iceland Adopting Euro Unchanged
Icelanders may have to look elsewhere if they want to adopt a new currency, as the EU ambassador says the EU’s position on taking up the euro is unchanged. At a luncheon held today at the European Union delegation to Iceland, EU…
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FT: Don’t Be Fooled By Iceland’s Recovery
The Financial Times have published an article detailing the darker side of Iceland’s impressive recovery from the 2008 economic crash. Unemployment is down as Iceland boasts a growth rate above 3%; tourism, energy and IT businesses picking up pace as the nation’s source of…
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Iceland’s Euro Bonds Yield 2.6%
The six-year euro-denominated bonds Iceland put up for sale in preparation to phase out capital controls have yielded 2.6% and mark a good return to the European market, reports Bloomberg. “We are happy,” Finance Minister Bjarni Benediktsson said. “We are refinancing all…