Could Panama adopt the euro?

This is apparently the week for counter-conventional wisdom thinking on Europe. This time it’s Panamanian President Ricardo Martinelli, during a press conference with Angela Merkel: "In Panama the currency in free circulation is the American dollar and I told the chancellor we are looking for ways for the euro to become another currency of legal ...

This is apparently the week for counter-conventional wisdom thinking on Europe. This time it's Panamanian President Ricardo Martinelli, during a press conference with Angela Merkel:

"In Panama the currency in free circulation is the American dollar and I told the chancellor we are looking for ways for the euro to become another currency of legal circulation and to be accepted in the Panamanian market," President Ricardo Martinelli told a joint news conference with Merkel in Berlin.

Martinelli provided no details about the switch but he expressed "full confidence" in the German and European economies and said he expected the euro zone debt crisis would soon pass.

This is apparently the week for counter-conventional wisdom thinking on Europe. This time it’s Panamanian President Ricardo Martinelli, during a press conference with Angela Merkel:

"In Panama the currency in free circulation is the American dollar and I told the chancellor we are looking for ways for the euro to become another currency of legal circulation and to be accepted in the Panamanian market," President Ricardo Martinelli told a joint news conference with Merkel in Berlin.

Martinelli provided no details about the switch but he expressed "full confidence" in the German and European economies and said he expected the euro zone debt crisis would soon pass.

A number of non-EU states already use the euro, including Monaco, San Marino, Vatican City, Andorra, Montenegro, and Kosovo. Obviously, Panama is a bit further afield.

Joshua Keating was an associate editor at Foreign Policy  Twitter: @joshuakeating

Tag: EU

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