BRUSSELS (MNI) – Iceland Tuesday began negotiations to enter the
European Union, paving the way for the country to join the 27-nation
bloc as soon as 2012.
Iceland’s application – which it made in July 2009 – is being
fast-tracked following the country’s economic crisis in 2008, when
banking sector problems resulted in a rapid deterioration in the value
of its currency and a E10 billion bailout from the International
Monetary Fund.
The country is already a member of the European Economic Area and
now has to undergo a “screening-process” to see what areas of European
law it needs to comply with before membership is granted. The process is
expected to last until around November 2011, the European Commission
said in a statement.
“For Iceland this means economic and monetary stability,” Stephan
Fule, the European Commissioner for Enlargement, told reporters at a
press conference.
“This does not mean that it is going to be an easy ride [for
Iceland to join]. Issues are there, like fisheries, agriculture and food
safety,” he said.
Iceland is expected to have to change some of its policies on
fisheries, agriculture and rural development, as well as environment,
free movement of capital, and financial services.
Its tradition of whaling may also prove a bone of contention
because whales — as well as dolphins and porpoises — are protected by
EU law.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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