That would be cool
They may have to race Norway for it.
Be wise, keep your currency.
Shengen would be cool for foreigners but i don’t see what Iceland has to gain with it or anything else, really.Why keep national currency? Having one currency across the entire Bloc has the advantage that you don’t have to exchange currencies.
With all the disadvantages, namely you lose monetary sovereignty and just because it’s the same currency doesn’t mean it’s worth the same across the bloc.
Iceland has a small economy and its biggest trade partner is the EU, they’re already a member of EFTA. The Euro would benefit them more than harming them, the real issue was always fishing rights and legislation
hey’re already a member of EFTA.
Then they have nothing to gain with joining the euro.
Voting rights?
EFTA is practically “I’m in the EU but cannot vote along” which is a pretty big disadvantage, if you ask me.
I am not sure the EU still allows membership without switching to the Euro
Country has to make a promise to switch to Euro, but there is no deadline whatsoever :)
Oh, it certainly does. There’s ERM II, but the deadline is lax.
Dunno either…UK did it, maybe the EU changed the rules so they can better control the states, wouldn’t surprise me. Iceland cold pull a Norway though, probably a better approach.
It’s literally a 5 minute Google search.
The UK and Denmark joined before the Euro was a thing, and thus, were allowed to stay out. No other country that joined after 1999 ever got an opt out, because this is not legal anymore.
Iceland is already part of Schengen, and the EEA.
I thought they were already! Didn’t realise visa would be needed.
