Iceland is looking to hold a referendum on the question of EU membership by 2027.
The north European country has traditionally been ambivalent about joining the bloc, but issues such as the 2008 financial crisis, Brexit and a range of domestic topics have made a possible ascension more appealing.
A new government led by Kristrún Frostadóttir said it will set up a panel of experts to look into the advantages and disadvantages of retaining the Icelandic crown over adopting the Euro.
“We agreed that a motion in parliament be agreed upon, stating that we will have a referendum on the continuation of Iceland’s European Union accession talks and that this referendum be held no later than 2027,” said incoming Foreign Minister, Þorgerður Katrín Gunnarsdóttir.
Gunnarsdóttir also heads the pro-EU Liberal Reform party and is widely expected to spearhead any accession talks.
According to a poll conducted by market research company Maskína in June, support for EU membership among Iceland’s population is growing.
That poll found just over 54 per cent of respondents were in favour of joining the bloc, with the majority saying they thought households would be financially better off as part of the EU.
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