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<p>[QUOTE=&quot;chrisild, post: 470122, member: 39&quot;]Two different issues here. If Iceland now wants to join the EU (the government in Reykjavik is apparently reconsidering its position), then the country could, after the usual negotiations, get in. Since the country is part of the EEA anyway, that should not take decades. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>The &quot;usual procedure&quot; for an EU member with regard to the euro is this: When a country is (almost) ready, it joins the Exchange Rate Mechanism, meets the convergence criteria and can become a euro country after two years. This is the way Slovakia &quot;gets in&quot; next month.</p><p><br /></p><p>Iceland is another case - even if the country was in the EU, it would obviously not meet the convergence criteria. (Some of the existing euro countries would currently not meet them either, but that is another story. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" /> ) What Iceland may do is <i>unilaterally</i> start to use the euro, or peg the krona to it or to some currency basket.</p><p><br /></p><p><br /></p><p>Maybe so; having to deal with ten new members joining at the same time (2004) and two more (2007) sure caused some friction in the EU. But saying &quot;no, we do not want you yet&quot; would have been the wrong signal, I think.</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

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