Iceland says “no” to EU - Referendum rejects reopening of negotiations
Icelanders have voted against reopening talks on the country's membership in the European Union, ending, at least for the time being, the government's attempt to get negotiations with Brussels back on the table.
According to the results of the referendum, 52.8% of voters voted against, while 47.2% voted in favor of the proposal to open accession negotiations. Turnout was high, with 82.5% of registered voters taking part in the vote.
The result was considered a blow to supporters of European integration and the center-left government's efforts to put the issue of membership back on the political agenda.
Of Iceland's six electoral districts, only two in Reykjavik voted overwhelmingly in favor of reopening negotiations, while rural areas and the outskirts of the capital voted against.
Fishing, the main argument against the EU
One of the most sensitive issues during the campaign was the fishing industry, which is of great importance to the Icelandic economy.
Opponents of membership argued that EU entry could limit Iceland's control over its marine resources and fishing quotas. The fishing industry contributes about 15% of GDP, through direct and indirect impact, and accounts for about 40% of export earnings.
Supporters of membership, on the other hand, argued that membership would give Iceland economic benefits and a stronger position in the face of geopolitical changes and increasing rivalry in the Arctic.
The economy and the euro at the center of the debate
The EU debate also took place during a difficult economic period for Iceland, which is facing inflation and high interest rates.
"Yes" supporters argued that membership and the possibility of adopting the euro could help stabilize the economy. Iceland's base interest rate is currently 8%, significantly higher than the European Central Bank's rate.
Opponents of integration, however, considered the idea that Brussels could solve the country's economic problems exaggerated, insisting that they should be addressed by Icelandic politics itself.
A debate that has lasted for more than a decade
Iceland applied for EU membership in 2009, at the height of the financial crisis that hit the country's economy. Negotiations began shortly after, but were suspended in 2013 by a Eurosceptic government.
The latest attempt to bring the issue back to the negotiating table was presented by the government as an opportunity to strengthen Iceland's position in the face of economic uncertainties, trade wars and strategic developments in the Arctic.
The referendum result shows that, despite support for a close relationship with Europe, the majority of Icelanders are not yet ready to reopen the EU membership process.
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