Canada Open To Iceland Adopting The Loonie
When we published an article last November on a campaign in Iceland to adopt the Canadian dollar, the notion seemed more like the plot of a whimsical satire than a sombre issue of monetary policy.
Think of it: an eccentric little country with a population smaller than Halifax seeks to reverse its sagging fortunes through an unlikely partnership with a shy-yet-stable energy superpower.
Cast Martin Short as the Canadian ambassador, Molly Parker as his tart-tongued aide and Christopher Plummer as the entire nation of Iceland—you’ve got the opening-night film for next year’s Toronto International Film Festival. We didn’t doubt the sincerity of the idea, nor did we play it for laughs.
Senior writer Joe Castaldo’s reporting from Iceland, still recovering from the failure of three major banks in October 2008, was a well-nuanced portrait of a country in transition. But replacing the krona with Canadian currency seemed too, well, loony to be viable.
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