ABU DHABI, Nov 24 (Reuters) - Euro zone membership is not a "fail-proof" formula for economic success and the benefits for Iceland look less clear in the wake of the current debt crisis, Iceland's president told Reuters on Wednesday.
"The debate more than a year ago to apply for membership was that the global financial markets have developed in such a way that it was difficult to maintain a separate currency for a small nation," President Olafur Grimsson said in an interview with Reuters.
"But since then we have seen one euro country after another in serious difficulty. Most recently, what's happening in Ireland. So the advantages of having a different currency look less clear now," he said.
(Reporting by Humeyra Pamuk, Editing by Jon Boyle)