While in Iceland I learned from local fisherman who have conflicting thoughts on joining the EU. On one hand it could strengthen relations, but on the other they would not be able to preserve their fisheries from being over fished.
That is a myth propagated by the owners of the fishing companies.
The real reason they oppose the EU is that they benefit immensely from having income and debts in Euros and dollars, while their expenses and interest bearing assets are in the weak and high-interest ISK.
Consider that icelandic mortgage interest rates are currently 9-11% but a few years ago they were 4% which was celebrated as historically extremely low rates.
No, it’s a very real threat. Icelandic waters can only be fished by Icelandic vessels. That’s what the cod wars were about; protecting our right to be the only ones to fish our waters.
If we join the EU we’re pretty much guaranteed to lose this exclusive access to our waters, and that will be devastating for the economy, given how the fishing industry is one of very few industries keeping the economy afloat. Especially considering exports to other countries.
The EU has an abysmal history of setting and managing ITQs in its waters, with Iceland having some of the best (but not at all perfect) managed waters in the world.
So there is plenty to be skeptical about when it comes to how negotiations would go on the matter.
Um, joining the EU is not the same as joining the Euro. They can keep doing this exact thing after joining the EU if they keep their currency just like a few others are doing.
No, this is mostly about fishing rights afaik. Britain also kept having issues on that front.
You mean Sweden and Denmark, not Scandinavia. And both have different ideas about joining the Eurozone. Norway isn't part of the EU. Finland is using the Euro.
Swenrekcah|1 year ago
Consider that icelandic mortgage interest rates are currently 9-11% but a few years ago they were 4% which was celebrated as historically extremely low rates.
kreykjalin|1 year ago
If we join the EU we’re pretty much guaranteed to lose this exclusive access to our waters, and that will be devastating for the economy, given how the fishing industry is one of very few industries keeping the economy afloat. Especially considering exports to other countries.
MrDresden|1 year ago
The EU has an abysmal history of setting and managing ITQs in its waters, with Iceland having some of the best (but not at all perfect) managed waters in the world.
So there is plenty to be skeptical about when it comes to how negotiations would go on the matter.
tugu77|1 year ago
No, this is mostly about fishing rights afaik. Britain also kept having issues on that front.
rich_sasha|1 year ago
UK and Scandinavia got to opt out of the Euro, for example.
smhg|1 year ago
xenospn|1 year ago
throw-qqqqq|1 year ago
https://en.m.wikipedia.org/wiki/Whaling_in_the_Faroe_Islands