Back in the beginning of April, I wrote about how the US is adopting the Canadian penny as a replacement for its own penny. I thought this was a great idea and made a lot of cents, er sense: Canada has a whole bunch of pennies sitting around that they don’t want, and the US is spending a lot of money producing pennies, so why not put the idle coins to use? The only problem? I wrote the post on April 1st, as my annual April Fool’s Day spoof. Sadly, it all turns out to be a fable.
But now, this idea is back, and this time it’s real. Iceland, no doubt after Iceland treasury authorities read my April 1st post, is contemplating adopting the Canadian dollar, known as the loonie, to replace their current dollar equivalent, the krona. Iceland thinks the Canadian dollar is a more stable currency than its cousins, the Euro and American dollars, and probably rightly so. Canadian currency lacks the baggage of its Euro and American cousin’s debt, bailouts, unemployment and banking scandals. And let’s face it, Canada is just a nice country, filled with nice, nice people, who seem pretty willing to share their currency and probably just about anything else.
If the Canadian-Icelandic loonie deal goes though, who knows what’s next? Icelanders changing their national anthem to “O Icelandia, our home and native land …” Icelanders having a sudden penchant to imbibe in Labatt or Molson? Iceland changing its national sport to hockey? Icelanders suddenly spouting things like “Eh?” and “aboot” ? The possibilities are endless, and bodes well for bloggers and late-night TV hosts.
- US takes advantage of Canada’s cost saving move (huffygirl.wordpress.com)
- Stephen Colbert warns Canadian loonie poised for global currency domination (blogs.canada.com)
- Loonie support grows in Iceland as 70% back adopting Canadian currency (sunnyromy.wordpress.com)
- O Canada (huffygirl.wordpress.com)
- Maple Leaf Money (huffygirl.wordpress.com)
- When Should A Country Abandon Its Own Money? (npr.org)