Iceland votes on whether to resume EU membership talks

Iceland is holding a referendum on Saturday to determine whether to resume talks for rejoining the European Union (EU). The country of 400,000 people applied to join the EU following a financial crisis in 2009. Membership talks were suspended in 2013 when a Eurosceptic government took power. Public opinion polls indicate the referendum result is expected to be very close, with the "Yes" and "No" sides almost tied.

Foreign Minister Thorgerdur Katrin Gunnarsdottir, a pro-EU advocate, remains optimistic about a "Yes" vote. The referendum asks the 273,000 eligible voters to answer "Yes" or "No" to the question of whether Iceland should resume accession negotiations with the EU. If "Yes" wins, an accession agreement would be negotiated, followed by a new referendum on actual membership.

The issue of fisheries, a key part of Iceland's economy, would have to be addressed by Brussels, which seems more willing to compromise this time around. Iceland's economy is currently thriving, and some voters see no need for EU membership, given their access to the single market through the European Economic Area. However, soaring inflation and interest rates have made the prospect of joining the eurozone more attractive to some.

The geopolitical situation, including Russia's invasion of Ukraine and President Donald Trump's actions, has added to Icelanders' concerns about defense and the stability of the agreement with the US. EU Enlargement Commissioner Marta Kos sees Icelandic membership as an example of positive enlargement that could encourage the EU to welcome other countries.