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View Diary: Tip of the iceberg - politics in Iceland today (update) (188 comments)

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  •  they should choose (4+ / 0-)

    I hear that the Euro was well on its way to become Icelands second inofficial currency even before the crisis hit. Certainly, had they been in the Eurozone, the bank collapses would not have led to currency devaluation and would not thereby have left the property of the entire population devalued. It would have been an (EU facilitated) government bailout thing along the lines as happend in the rest of the EU, which is a debatable thing in its own right, but the entire country would not have been taken down. So I guess the Icelanders would have been better off had they already been in the Eurozone.

    However, I´d say its up to them. While this banking crisis has created some hard feelings between them and England and while we in the EU have pretty much had our fill with new members, Iceland would probably be rather welcome if they so choose. But let them think it through in due time, membership does come with some consequences so they shouldnt make a hasty decision.

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