Two top politicians in Iceland’s ruling coalition clashed over the weekend about the possible future design of the small open economy’s exchange rate regime.

Benedikt Johannesson, finance minister and founder of the Reform party, told the Financial Times on April 1 that the free-floating status quo was “untenable”. He suggested it was probably wise to peg the Icelandic krona to the currency of a major trading partner, most likely the euro or pound.

A day later, prime minister Bjarni