Iceland to seek EU membership

Having your country pulverised by a financial crisis and near bankruptcy is a good way to change your mind about EU membership. Iceland has long enjoyed all the benefits of the EA but is not an official member. They value their own fishing and farming laws and have not need the Euro currency, up until now. Following the collapse of their economy and the near zero value of their currency they are seeking a economic change. They hope adopting the Euro will have them back in the game even if it means that they will have to give up their fishing freedoms.

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