Interest rates, fish and Donald Trump on Icelanders' minds as nation goes to referendum on EU

High interest rates, inflation, a struggling fishing industry and Donald Trump are on the minds of Icelanders as they prepare to vote on whether to restart negotiations to join the European Union. If the country decides to join, they will have a second vote to finalize the agreement. Alternatively, they could reject the proposal and maintain their current status.

A recent poll shows that 46% of voters support the 'yes' side, while 46% are against it, with 8% undecided. The main argument for joining is the potential for economic opportunities and lower living costs, as high inflation and interest rates make owning a home difficult. Icelanders believe that adopting the euro would lower interest rates and inflation.

However, opponents argue that joining the EU would not solve these issues and that the government should be addressing them regardless. The fishing industry, central to Iceland's identity and economy, fears that EU regulations would jeopardize their sustainable fishing practices. A prominent supporter of joining the EU argues that negotiations will allow for exemptions to protect the industry, while a former president of Iceland fears that the move would mean transferring power to EU institutions.