Scandinavian Monetary Union after Iceland was elevated to a separate kingdom in union with Denmark in 1918. Iceland cut its ties to Denmark in 1944 and became a republic. The Icelandic króna soon became volatile, causing a high inflation and in 1980 a currency reform was introduced, in which 1 new Icelandic króna was set to 100 original ones.. The Scandinavian Monetary Union was inspired by the Latin Monetary Union, established in 1865. According to economic historians Ingrid Henriksen and Niels Kærgård:Was the Scandinavian Currency Union a success? Yes and no. When the Union functioned at its best, which was only from 1901
Basic income around the world 2010, the liberal party Drasi supported a proposal for a basic pension scheme, aiming at simplifying the hundreds of pension schemes in a country being hurt by the debt crisis and pressured by the troika to balance its public budget. Manos Matsaganis and Chrysa Leventi co-authored a study that demonstrate the feasibility of such a proposal. Other heterodox proposals suggest that a Greek exit from the eurozone could be an opportunity to implement a "monetary dividend" for every Greek citizen as a way to manage the financial collapse of the country. Unconditional basic income is endorsed in Hungary by the