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 in the Nordic countries (Left Party). The basic income-concept became known in Denmark in the late 1970s with the book "Oprør fra midten". The following decades the debate continued, with some small victories for the movement, but nothing like a big break through. In the national election 2015 a new party was elected into parliament, Alternativet, which is amenable to some kind of basic income. The basic income debate in Iceland in recent years is strongly linked to the recent rise of their Pirate Party, with Birgitta Jonsdottir as one of the front figures. Basic income in the Nordic countries Basic income ("Swedish: basinkomst