Nov 27 2007
Danish to Consider Dropping Krone
Denmark will consider dropping its currency, the Krone, in favor of the Euro on the country’s upcoming referendum. The AP has the story.
The Krone is already tied to the Euro and the Danish central bank shadows the interest rate moves of the European Central Bank.
Membership of the euro is clearly still controversial. It was rejected in 2000 by 53 to 47 per cent, after an emotional campaign that saw a grassroots No movement outpoll all the main political parties, backed by the Danish employers, the trade unions and most of the media.
Economists argue that Denmark gains nothing by being outside the single currency, for the krone is tied to the euro, and the Danish central bank shadows the interest moves of the European Central Bank – often within 15 minutes of a change.
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[…] We recently wrote about Denmark and its renewed interest in dropping the Krone for the Euro. […]