Friday, March 2, 2012

Iceland goes loonie

Iceland may unilaterally adopt the Canadian dollar.

"Here’s a compelling economic case why Iceland would want to adopt the Canadian dollar. It offers the tantalizing prospect of a stable, liquid currency that roughly tracks global commodity prices, nicely matching Iceland’s own economy, which is dependent on fish and aluminum exports. There’s also a more sentimental reason.“The average person looks at it this way: Canada is a younger version of the U.S. Canada has more natural resources than the U.S., it’s less developed, has more land, lots of water, and Canada thinks about the Arctic.”

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