Iceland Begins Talks on Joining EU
It's an unpopular notion within the country
By Newser Editors and Wire Services
Posted Jun 27, 2011 11:07 AM CDT
The flag of the European Union is caught in the wind as an unidentified aircraft flies over Brussels, Wednesday, May 25, 2011.   (AP Photo/Yves Logghe)
camera-icon View 1 more image

(Newser) – Iceland is beginning formal accession talks with the European Union, following several months of preparation by both sides. Iceland applied for membership following the collapse of its bloated banking industry in 2008, but joining the EU is unpopular with large sections of the public. Iceland's membership in the EU could lead to abolishing the country's capital controls and adopting a new currency. Fisheries, agriculture, and monetary policy are expected to be key issues in the negotiations.