The European Parliament yesterday ratified a committee report from February on Iceland’s EU accession talks. The report and parliamentary debate were generally positive on Iceland; although there is concern about the discussion surrounding the EU in the country.
The report authors write that the discussion about whether Iceland should take up the Canadian dollar or the euro underlines the need for informed discussion about the benefits and drawbacks of European Union membership.
Stefan Füle, the EU expansion commissioner, said he is happy with the way negotiations with Iceland are proceeding — although very difficult issues remain to be tackled. Those issues include fisheries, which will be discussed later this year, RÚV reports.
The report’s main author, MEP, Christian Dan Preda, said he totally agrees with Icelandic Prime Minister Jóhanna Sigurðardóttir’s assessment that Iceland’s two main options are to either join the EU and take the euro as its currency, or to give up sovereignty by unilaterally taking another currency and the monetary policy that comes with it.
British Conservative MEP Charles Tannock said in parliament that he thinks Iceland could be a “model EU state” and that Icelandic membership might hopefully persuade Norway to apply.
The report notes that the ongoing “mackerel war” is the biggest block to Icelandic membership and that there are no other political, economic or legislative barriers to membership.
The European Parliament ratified the progress report with 596 votes against 52.
“Iceland should adopt the Canadian dollar.” Here is an article from today on the topic, in Embassy magazine from Canada.
http://embassymag.ca/page/view/meadows-03-28-2012
@Wario – The Vikings needed carpenters to build boats. It was the same kind of knowlegde that was needed to build the economic independence we have now.
The Norwegian Auditor General is a former carpenter. Of course we need clever economists, but many broilers should not have been allowed to handle other peoples money.
I have already taken my time in politics :-)
Advising Icelanders? Icelanders must solve their own internal issues. Iceland is a small population/country without direct border to any continent. It is a perfect place for a local currency, it only depends on if Icelanders is loyal to it. Fish is their foreign currency.
@Oystein-Norway, wow are you serious! Thanks to the Norwegian economists for a strong economy not to the carpenters! If Norway was leaded by carpenters, we should be around 800 AD, back in the days with the Vikings in Scandinavia! You should present yourself for the next election in Norway or maybe in Iceland? I’m sure you’ll be popular…..
@Wario – To understand economy, you have to be an carpenter. Economist learn how to earn money by manipulating other people, but a carpenter learn how to make money out of real work. ISK in not a problem. It was carpenters that made it possible for people to settle in Icelanders. Economist do only talk, and prefer to say what benefits THEM most.
@Fisy, keeping the Krona for two more years is not good for Iceland’s economy. The ISK is seriously low and at this state, it doesn’t help Iceland to be back in business because nobody want to invest in country with a devastated device! You have to be wise so take your time to choose but not too much time so you’ll drown yourself like you did in 2008 with your banks! My thoughts are; take the Canadian dollar at least for a couple of years to restart your economy, maybe something similar to what did Argentina and Chili in the 80′s with the US dollar.
>MEP, Christian Dan Preda, said he totally agrees with Icelandic Prime Minister
>Jóhanna Sigurðardóttir’s assessment that Iceland’s two main options are to either
>join the EU and take the euro as its currency, or to give up sovereignty by
>unilaterally taking another currency and the monetary policy that comes with it.
Jóhanna would love to become EU commissioner as would Össur Skarphéðinsson — it seems to be their dream. Then they can have they nice fat salary and expenses to abuse away from scrutiny of Icelandic tax payer.
But unlike this Romainan and British MEPs, our Jóhanna is not yet away from scrutiny of here electorate. WE the icelandic voter and tax payer have not seen any convincing argument about how exactly only these two options are it.
Staying with Krona is all that can happen for next 2 years at least. By then the way EU works will be even more centralized controls and some few bureaucrats there centrally planning tax policy for all citizens in EU.
Given how badly EU commission did mess up EU bank regulations and how badly they are handling the Euro though this troubled times — it is not very smart to ask EU commission burecrats for technical assistance let along some MEP that has no knowedlge whatsoever of the country that he is discussing or of finances.
He is not even a lawyer with a little business knowledge grounding — but a professional (as in full time) EU politician who background is as history of philosophy and political science.