CANADA FTW!

A loonie idea? Iceland considers adopting Canadian dollar

According to the Financial Post, the Canadian ambassador to Iceland is ready to begin negotiations over the adoption of the Canadian dollar, the “loonie”, to replace the krona on the tiny island nation of less than 350,000 people.

Since the country went bankrupt in 2008, Icelanders have been looking to replace the embattled krona for a more stable currency. Initially, the euro was expected to be adopted but the debt crisis has hampered those plans, according to CBC News.

A recent Gallup poll has suggested that seven out of 10 Icelanders would dump the krona with most respondents favoring the Canadian dollar.

The idea is that by moving to a larger, more stable currency, Iceland would have a better position in international trade agreements.

Supporters of the deal, including members of the Progressive Party of Iceland and some business people and economists cite Canada’s stable banking system and relatively low sovereign debt as reasons why the loonie might be a good choice.

Iceland would, however, lose control of its monetary policy and the adoption of a new currency could take years while the Icelandic government buys enough Canadian dollars to put into circulation.

Iceland’s RUV media reported Friday, according to CTV News, that the Canadian ambassador will touch on the matter during a speech on Saturday in Reykjavik to opposition party members.

It is expected that the ambassador will say that Canada is open to the idea if Icelanders are serious about the deal.

According to the Toronto Star, the Foreign Affairs Ministry and the Canadian Embassy in Iceland have declined to comment.

The Washington Post pointed out that the unilateral adoption of another currency by a country is not unheard of. In 2000, Ecuador replaced the peso with the US dollar, while Kosovo recently adopted the euro.

On the culture of Edmonton and Toronto

Sat, 03 Mar 2012 20:30:05 -0500

Pr0stSh0cKeR: ooo
Pr0stSh0cKeR: how is it nice
Pr0stSh0cKeR: is it like
Pr0stSh0cKeR: historical?
Disidi: LOL fuck no
Disidi: History in the Edmonton region?
Disidi: "Here's a lane of buildings that are like, I dunno, 50 years old. Also beavers...???"
Disidi: Just espessive houses
Pr0stSh0cKeR: AHAHA
Pr0stSh0cKeR: OIL HOUSES
Pr0stSh0cKeR: build a tiny house
Pr0stSh0cKeR: after the empire state buildiong
Pr0stSh0cKeR: and live in it
Pr0stSh0cKeR: itll be the most cultural thing in edmonton
Pr0stSh0cKeR: and itll be in the newspapers
Pr0stSh0cKeR: actually im pretty certain it would lol
Disidi: lol it would.
Disidi: "NEWSFLASH: NEW YORKER IN OUR MIDST. WORSHIP AS CULTURAL ICON"
Pr0stSh0cKeR: HAHA HEY TORONTO
Pr0stSh0cKeR: WE CULTURE NOW
Disidi: LOL
Pr0stSh0cKeR: MORE NEWYORK THAN U
Pr0stSh0cKeR: DEAL W/. IT
Disidi: I was described Toronto thusly: "pissy New York wannabes"
Disidi: it must sting
Pr0stSh0cKeR: pretty much
Pr0stSh0cKeR: their biggest uh
Pr0stSh0cKeR: thing
Disidi: That the entire country seems to think that of them, lol
Pr0stSh0cKeR: is
Pr0stSh0cKeR: we are the most multicultural city ever
Pr0stSh0cKeR: that feel when the best thing your city has to offer
Pr0stSh0cKeR: is the cultures other people bring to it
Disidi: LOL yep
Disidi: Canada kind of has that in spades though

move-grow-evolve: Wow, I won again today! Tims is fueling my...

Sat, 03 Mar 2012 19:45:05 -0500

move-grow-evolve:

Wow, I won again today! Tims is fueling my coffee (or is it gambling) addicition.

mizmelle: Oh yea!! Luck finally on my side! 2-7 and I get a...

Sat, 03 Mar 2012 19:00:06 -0500

mizmelle:

Oh yea!! Luck finally on my side! 2-7 and I get a free coffee!! Makes up for the 5 other that I bought hehehe! #caffeine #canadian #tradition #TimHortons #coffee #foodie #foodporn #yummy #fun (Taken with instagram)