Iceland is thinking of adopting the Canadian dollar

GlobalPost

Iceland is reportedly looking to ditch their unstable currency and adopt the Canadian dollar, the Globe and Mail reports — and Canada might let them.

Canadian ambassador Alan Bones is due to say tomorrow that if Iceland is sincere in its intention, the two countries should enter talks.

Ambassador Bones was reportedly approached last year by a number of prominent Icelandic businessmen.

The plan seems to be the latest unorthodox idea in Iceland's remarkably successful recovery. It may work as a prevention against the economic disaster in 2008, providing a stable and liquid currency, but would leave the country less in control of its own economy.

7 out of 10 Icelanders are reportedly in favor of the plan, but the official hope is currently to join the euro.

Read more details at the Globe and Mail >

Please follow Europe on Twitter and Facebook.
Follow Adam Taylor on Twitter.
Ask Adam A Question >

More from our partner Business Insider:

Business Insider: The Billionaire Koch Brothers Are Suing For Control Of The Think Tank They Helped Create

Business Insider: The Army Is Eyeing These Cool New Camouflage Patterns

Business Insider: Scarlett Johansson Is Going 'Psycho'

Bussinss Insider: MIKE ARRINGTON: "Arianna Huffington Is A Touchy Psychopath

Bussines Insider: How The Green Bay Packers Made $67 Million Selling Meaningless Pieces Of Paper

Sign up for our daily newsletter

Sign up for The Top of the World, delivered to your inbox every weekday morning.