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EU Member State #28 – Iceland?

February 1, 2010

The European Commission will present a formal opinion on Iceland’s application for EU membership on February 24, less than two weeks before Icelanders vote in a crucial referendum. While Iceland has already implemented a large share of EU rules as a member of the European Economic Area, the collapse of Iceland’s banking system in October 2008 (arguably the overwhelming impetus for Iceland’s membership bid at this point) has damaged the country’s relationship with the United Kingdom and the Netherlands, who have suggested that they might block membership talks unless Iceland agrees to compensate British and Dutch citizens who were negatively affected in the financial crash.’s-eu-bid-in-february/67022.aspx

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