No Fooling: Iceland hopes to adopt Canadian currency

Due to its soaring value against the American ...

Due to its soaring value against the American currency, the Canadian dollar was the Newsmaker of the Year for 2007. (Photo credit: Wikipedia)

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.

11 thoughts on “No Fooling: Iceland hopes to adopt Canadian currency

  1. Oh, what a loonie idea! 🙂 Well, at least they are not being forced to do that, unlike some countries in a union whose money is called the Euro. Now, those same countries who thought that they would be mighty rich and powerful after joining the union not only lost a big part of their culture, but also wallow in poverty. And Germany, the richest of the lot, is now basically shouldering the debt burdens of those poorer countries by way of more loans. London had a sense to keep its own money.

    • Good points Imelda. When the whole idea of the Euro started, I really wondered if it was a good plan. While it makes travel and commerce between Euro countries easier, as you point out, poverty in one country drags down the others.

      Meanwhile, it will be interesting to see what happens in Iceland if they tie their dollar to that of an unrelated country.

  2. Okay, I’m still laughing. However, if Iceland switches to the loonie, they may enjoy its stability, but they won’t enjoy its weight. If you have a wad of one dollar bills, its bulk and weight are relatively negligible. Try the same with loonies. Canadian men are getting lopsided from the change in their pants pockets, and Canadian women have longer arms from carrying purses with loonies in them. However, you should see our muscular Brinks guys. 😛

    • I love it Sandra. As you are our official Canadian spokesperson, I defer to your wisdom on the loonie. That is why Americans are so resistant to change from paper dollars to coins – we don’t want to carry around all of those heavy coins. Our treasury has introduced three different dollar coins without taking away the paper bills, so no one uses them. Probably the treasury people don’t even want to use them – that’s why they’ve kept the paper bills. Maybe you should fire off a warning to the prime minister of Iceland.

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