I found this interesting piece of news on the Central Bank of Malta website:
This note is only a minor detail in an article about other issues. The complete article can be read here (the quoted text is about one screen from the beginning).The Governor of the Central Bank of Malta, Mr Michael C Bonello, wrote:... In a similar context, the announcement last week that Iceland is considering joining the euro is most significant. The country’s Prime Minister is reported to have said, “It’s clear [that] it’s not easy to run a small economy and a small currency in a big market”.