I answered a question for kannski.is, a website giving opposite views on matters relating to the EU.  It was whether Iceland could not join NAFTA instead of the EU, unilaterally adopt the dollar and keep its sovereignty intact instead of risking it within the EU.  Although I presently believe that Iceland’s long term prospects are [...]

Iceland’s highly indebted banking sector collapsed in October, taking with it the wider economy and the crown currency. – Iceland attempted to introduce a currency peg — which survived less than a day — before imposing stringent capital controls restricting foreign exchange purchases to those for essential items such as food, fuel and medicine. – [...]