Króna expected to remain Iceland's currency

Photo: Heiðar Kristjáns­son

Two-thirds of members of The Confederation of Icelandic Employers ('Samtök atvinnulífsins'), Iceland's main empolyers' body, expect the Icelandic króna to remain the country's currency in the future according to a survey introduced at the CIE's annual general meeting on Thursday.

Based on the results the majority of companies of all sizes believe the króna will continue as Iceland's currency in the future according to the CIE's website. "Most of the large companies assume the króna will be the future currency of the Icelandic people (92%), then the micro companies (70%), then the average companies (68%), and finally small companies (58%)."

Similar survey a year ago, among members of The Icelandic Federation of Trade ('Félag atvinnurekenda'), showed only 27% in favour of retaining the króna while more than half, or 54%, did not see it as Iceland's future currency. Meanwhile, 40% opposed adopting the euro while 39% were in favour and 41% rejected membership of the European Union with 27% favouring the step.

Over the years there have been some speculations whether Iceland should replace the króna with a foreign currency. Either unilaterally or by joining the EU and adopting the euro. However, for more than six years opinion polls have shown a majority against EU membership and in October last year a Gallup poll furthermore had a public majority against adopting the euro.

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