Iceland delays banks’ plans to adopt the euro

Author (Person)
Series Title
Series Details 16.1.08
Publication Date 16/01/2008
Content Type

Plans by Iceland’s biggest company (the bank Kaupthing) to adopt the euro as its main currency have been quashed by the central bank, fuelling a debate about the creeping 'euro-isation' of Iceland's economy. The Central Bank of Iceland published a statement January 2008 arguing it needed to consider the consequences for Iceland’s monetary system if financial companies adopt foreign currencies and said it could not grant its approval now, though might do so later.

Related Links
Website: Central Bank of Iceland http://www.sedlabanki.is/
Website: Kaupthing Bank http://www.kaupthing.com/

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