Denmark has promised to run a tight and inexpensive ship during its EU presidency term. Read the full story

Denmark’s prime minister is yet to decide whether to join an agreement between the 17 Eurozone countries and most other EU countries in a bid to save the troubled currency. Read the full story

The Central Bank of Iceland is advertising for the submittal of offers to sell Icelandic kronur for cash payment in foreign currency. Read the full story

The Icelandic nation faces a choice between the single European currency or ongoing currency exchange restrictions and a relapse to a much simpler means of trade with the outside world if it keeps the krona. This is the opinion of Arni Pall Arnason, Iceland’s Minister of Economics and Trade. Read the full story

A quarter of Icelanders’ earnings are going straight into keeping the krona currency alive — according to the head of the Union of Icelandic Electrical Workers. He told reporters that Icelanders living in ‘Kronaland’ are working in a financial sweatshop. Read the full story

Mar Gudmundsson, the governor of the Central Bank of Iceland, says that joining the euro could still be a good option for Iceland in the wake of its economic crisis. His comments to the BBC come just days after President Olafur Ragnar Grimsson told Reuters that the benefits of euro membership are less clear than ever. Read the full story

Inclusion in the euro currency does not automatically ensure economic well-being and the benefits of the euro for Icelanders are less clear now in the wake of the economic crisis. So said the President of Iceland, Olafur Ragnar Grimsson, in an interview with Reuters today. Read the full story

Iceland’s Minister for Foreign Affairs says he is emphasising in Iceland’s EU accession talks that the Icelandic krona must be propped up by the European Central Bank immediately after Icelandic membership of the European Union and until Iceland adopts the euro, if and when that happens. The minister added that accession talks are likely to take longer than optimists had hoped. Read the full story

A clear majority of Danes are against joining the euro, despite widespread approval of the move last month. According to a survey by Danske Bank, 55 percent would vote against adopting the shared currency if a referendum were held today. In an almost complete reversal of the last survey in March, only 43 percent June respondents would vote in favour. Read the full story

The Central Bank of Iceland, on behalf of the Treasury, has reached an agreement with 26 pension funds, according to which the funds will purchase Housing Financing Fund (HFF) bonds owned by the Treasury. The Treasury and the Central Bank acquired the bonds following the banks’ collapse and with agreements with Banque centrale du Luxembourg and the liquidator of Landsbanki Luxembourg on 18 May 2010. The total nominal value of the bonds is 90.2 b.kr., and the sale is made with the aim of expanding the foreign exchange reserves. Furthermore, it reduces the Treasury’s net foreign-denominated debt, which had increased because of the financing of the aforementioned purchase. According to the agreement, the pension funds will sell foreign assets and pay for the bonds in euros, remitting a total of EUR 549 million. This transaction increases the Central Bank of Iceland’s foreign exchange reserves by 82 b.kr. (512 million euros), or by 17%. Read the full story