Iceland Central Bank: Euro Adoption Unlikely Amidst Crisis

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Iceland Central Bank: Euro Adoption Unlikely Amidst Crisis

The Central Bank of Iceland published a 622-page report, which provides detailed analysis of Iceland's currency and exchange rate policy options, yesterday.

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The Central Bank of Iceland. Photo copyright Icelandic Photo Agency.

Among the report's conclusions was that Iceland, which EU membership talks are ongoing, cannot consider a currency switch until both the Icelandic króna and the euro have stabilized, businessweek.com reports.

Minister for Industry and Innovation Steingrímur J. Sigfússon told ruv.is that it is important to continue to prepare for a future with the króna, given that no agreement has been made otherwise.

Click here to read more about Iceland's EU membership talks.

ZR