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Canadian government “ready to talk” about Iceland adopting our currency?

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posted on Mar, 4 2012 @ 10:07 PM
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Iceland has been desperate to replace its krona with a more stable currency since its banking collapse of 2008.

But instead of the obvious choices — the American dollar, the British pound or the euro — it seems Icelanders are eyeing our loonie. According to an article in the Globe and Mail, several Icelandic business leaders and some political parties have actually approached the Canadian government about adopting the Canadian dollar as their national currency.


ca.news.yahoo.com...


Interesting.

I know the Icelandic gov't and banking system underwent some major reform few years back..
but I don't know enough about their economic structure to see if it would be beneficially neutral. Possibly stir up some international tourism and travel between the 2 but with a small population of about 400,000 people, can't see it have any major effect.

What do you think?

How did Panama using US dollars as their currency go?

Iceland basically looks like Newfoundland, anyways




edit on 4-3-2012 by CALGARIAN because: (no reason given)




posted on Mar, 4 2012 @ 10:13 PM
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They could sell us one or two volcanoes we could use as super-weapons to keep our arctic territories free!


I would gladly go there on vacation!



posted on Mar, 4 2012 @ 10:16 PM
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Too cold to live in Canada or Iceland

Would Canada's currency
be worth more? Only benefit
I could see.


I would let them keep what they got.

Just in case.



posted on Mar, 4 2012 @ 10:25 PM
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I think it's a great idea!

Canada wouldn't mind to invest in the natural resources available and I see it could be a great influence to help expand the northern Canadian economy in the long run at the same time.



posted on Mar, 4 2012 @ 10:56 PM
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Thats pretty neat,
Despite my opinion on currency(its not a good one), canadian money is very pretty, and a country adopting it on their own free will, seems like an honor considering the nature of the icelandic people,

I'de like to go there someday! And yeah! it does look a bit like newfoundland.



posted on Mar, 4 2012 @ 11:07 PM
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a few things, tho to start i love this quite a bit

while iceland may only have 400 thous we have a good 35mill we could share with them

i have no idea how it panama using america's dollar turned out???

as for iceland i've heard their currency and economy are both actually rebounding quite well now
they got into a lot of trouble in 2007 and 08, they were basically what greece is now
they were threatened by the EU to becoming the Cuba of the north if they didnt accept loans like greece has been
but in an amazing cinderella type story iceland while heavily struggling for a couple years has successfully been recovering

but as for this story i would love to travel to iceland and not have to change currencies

in the links comments some people noted making it a province
while that would be great i doubt they would want to lose their own sovereignty
but closer relations through fiscal similarities would be amazing
i always kinda had a crush on iceland



posted on Mar, 4 2012 @ 11:09 PM
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We should probably have a re-election and remove our fraudulent Government before we start handing out our currency, to be honest.



posted on Mar, 4 2012 @ 11:10 PM
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Originally posted by popsmayhem
Too cold to live in Canada or Iceland

Would Canada's currency
be worth more? Only benefit
I could see.


I would let them keep what they got.

Just in case.


Our currency is worth more than the USD at the moment.
The major benefit is our debt is smaller, and our currency has a better credit rating.



posted on Mar, 4 2012 @ 11:28 PM
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Originally posted by badconduct

Originally posted by popsmayhem
Too cold to live in Canada or Iceland

Would Canada's currency
be worth more? Only benefit
I could see.


I would let them keep what they got.

Just in case.


Our currency is worth more than the USD at the moment.
The major benefit is our debt is smaller, and our currency has a better credit rating.


That is what I mean.

Canada should not be so quick to hand its currency
over.



posted on Mar, 4 2012 @ 11:38 PM
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reply to post by popsmayhem
 


We don't want our currency to trade high. We trade with the US a lot, so if they buy goods from us at a cheaper price, it's better for our economy.

Reducing the cost of the dollar is actually better for most Canadian businesses.

We don't have the GDP or population of the US, fear and speculation (and oil) are the only things keeping our dollar over valued.

There wouldn't be any benefit to Canada if Iceland adopts our currency, other than some form of international recognition and more stability. But the effects on the US having a western country drop it's dollar would most likely have worst consequences.



posted on Mar, 5 2012 @ 02:35 AM
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Talk is always good to open up new ideas and possibilities. With signs of economic struggles in Iceland, their position on the GFC is indicative of what may have happened if things went the other way. As for how far to go and where to draw the line is a complex situation with many implications. At a minimum I would aim for Iceland to maintain their discretion to switch currencies if Canada is to tank or for other national reasons.



posted on Mar, 5 2012 @ 02:59 AM
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People never learn... Sigh! Canada's currency is no different then anyone elses they are all fiat currency and all will fail just like Iceland's did...



posted on Mar, 5 2012 @ 07:24 AM
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I don't see any benefit to the Icelandic people.

If your government has unstable policies then that would just transfer to the now local Canadian dollars.
Example: Monday the price of gas might be $4.00 CD and then Thursday it could jump to $6.50 CD all because of some Icelandic bond issue.



posted on Mar, 5 2012 @ 09:19 AM
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reply to post by CALGARIAN
 


Seems weird. Iceland, the only nation to stand up against the banking cartel that killed the global economy, wants to partner with the most corporate government in the world?

I doubt it. Must be a faction going for a coup making the overtures.



posted on Mar, 5 2012 @ 09:25 AM
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I would welcome the Icelanders especially because of the character their stand against the robber barons has shown them to have.
I would hope that the example they set would be an inspiration to the Canadian people when it is our turn to face our own corporotyranny and the same robber barons

and our turn WILL come.

if we adopted it as a province I would guiess we will let Newfies name it...
"17.4 cases of beer to get there at 14 knots land"
got fish?
edit on 5-3-2012 by Danbones because: (no reason given)



posted on Mar, 5 2012 @ 01:49 PM
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reply to post by CALGARIAN
 


Already posted -

ATS Thread - Iceland Might Adopt Canadian Currency -- Talks In Process.,
edit on 5-3-2012 by Xcathdra because: (no reason given)



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