Iceland's Ministry of Finance and Economic Affairs has published a report by a four-member international expert group on Iceland's currency options, intended to support discussion on the country's future currency arrangement. The review weighs the advantages and disadvantages of keeping an independent currency against joining a larger currency area such as the euro area, and examines the implications for monetary policy, financial stability, exchange rate volatility, inflation and Iceland's position as a small open economy. The ministry commissioned the work in June 2025 and appointed Catherine L. Mann to chair the group, alongside Hilde Christiane Bjørnland, Steinar Holden and Stijn Claessens. A public conference at Harpa on 2 June will present the findings, with Mann introducing the report. Finance and Economic Affairs Minister Daði Már Kristófersson, Central Bank Governor Ásgeir Jónsson and Boris Vujcic of the European Central Bank are also scheduled to speak, and two panel sessions will cover the króna, the euro, labour markets and competitiveness in a changed currency environment.
Ministry of Finance and Economic Affairs (Iceland)2026-05-29
Iceland's Ministry of Finance and Economic Affairs publishes expert assessment of independent currency and euro area options
Iceland’s Ministry of Finance and Economic Affairs has published a report by an international expert group assessing Iceland’s currency options, comparing retention of an independent currency with joining a larger currency area such as the euro. The review analyses implications for monetary policy, financial stability, exchange rate volatility, inflation and Iceland’s position as a small open economy, and will be presented at a public conference with contributions from senior government and central bank officials.