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 ambassador to Iceland Matthias Brinkmann discussed a variety of subjects, from the defense of the Schengen Area system (as opposed to the alternative) to the uncertainty of how or if Iceland would pick up where it left off if it chose to enter the EU again.

Grapevine pointed out a recent poll wherein most Icelanders supported the idea of adopting a new currency irrespective of EU membership. In 2008, EU authorities expressed reservations about Iceland adopting the euro without joining the EU, but has that position softened since then?

Matthias pointed out that while adopting the euro without joining the EU was a move made in the Balkans, this transition was easy to make, as the German mark was the previous currency of choice.

“It can be done,” Matthias said. “That’s an issue that needs to be taken up here. But the official stance on the matter remains the same: euro through membership.”

This leaves Icelanders with the choice of pegging the króna to the euro – a move 22 countries have taken – keeping the króna, or possibly more creative ideas.