A new eurosceptic government in 2013 made the promise it would break off the membership application, which it has now honored.

Iceland will not enter the European Union and will not use the Euro as its own  currency.

Recent opinion polls suggest popular support for the EU has also waned, and membership is not a political high priority as Iceland struggles to get back on its feet after its banking collapse in 2008
and people’s minds are focused on paying off loans.

While the foreign ministry says Iceland’s interests will be best served outside the EU, the country is in the European Economic Area and the Schengen free travel zone, and has extensive links with European markets. These that will continue.

 

Simon Desgain