In a referendum, 52.8% of Icelanders voted against returning to the negotiating table with Brussels. The main arguments were protecting the country’s fishing resources, preserving economic independence and doubts over the need for EU membership.
Icelanders have rejected the government’s proposal to resume negotiations on joining the European Union. 52.8% of voters opposed the initiative, while 47.2% supported it. Turnout reached 82.5%.
The main sticking point was fishing, one of the country’s most important economic sectors. Supporters of the “No” vote feared that EU membership could limit Iceland’s control over its territorial waters and fishing quotas. The industry accounts for around 40% of the country’s export revenues.
At the same time, supporters of reopening negotiations pointed to the potential economic and geopolitical benefits of EU membership. Against a backdrop of high inflation and an 8% central bank interest rate, they argued that adopting the euro could help ease financial pressure.
After the results were announced, Prime Minister Kristrún Frostadóttir said the government had drawn an important conclusion: “People are happy with the EEA agreement.” Iceland will continue cooperating with the EU through the European Economic Area alongside Norway and Liechtenstein.
For Brussels, the result was a significant setback. “This is a clear blow to Brussels,” an EU diplomat told Reuters, noting that fishing rights and national independence were decisive factors.
Iceland first applied to join the EU in 2009 amid a financial crisis, but negotiations were suspended in 2013. The government now says the question of EU membership will remain on hold for at least as long as the current coalition remains in power.
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