Iceland is a member of the European Economic Area and part of the Schengen free travel zone, so it already has many of the EU’s laws on its books. As a result, “it will not be so complicated for us” and “would be rather a quick process” to conclude negotiations to join the bloc, assuming Icelanders vote to restart talks, said Þorgerður.
Asked whether Iceland could beat the candidates that are most advanced in their EU membership negotiations, such as Montenegro, to become the EU’s 28th member, Þorgerður said “yes.” However, she added, “the biggest issue will, of course, be the fisheries.”
Iceland applied for EU membership in 2009 amid a financial crisis but froze talks in 2013 after a dispute over fishing policy and a change in its economic circumstances; it formally withdrew its application in 2015. Before that Reykjavík had closed 11 of the 33 negotiating chapters — a milestone Montenegro surpassed only in the last few months. An EU official, granted anonymity to speak freely, told POLITICO last month that it could take as little as one year to conclude negotiations with Reykjavík.
Þorgerður cautioned that even if Icelanders say yes in August, there would still need to be another vote once the negotiations conclude.
But the benefits of joining the bloc at a time of “geopolitical turbulence” are making an impression, Þorgerður said. “It’s also very important for our businesses, for our industries that we give them a shelter and safeguard them within the Union.”
Iceland would benefit from joining the EU both economically and on security, Þorgerður said. “We always have higher inflation and interest rates than other European countries. And there are too many monopolies in the economy.” The EU would also benefit from having the geostrategic and wealthy Iceland in the bloc, she added.
With the August referendum, “we are giving the power to the people,” Þorgerður said. “I would say it would be beneficial both for Iceland and the European Union to negotiate now, not in two years’ time or whatever, but now.”