Iceland says dropping bid for EU membership

Iceland announced it was dropping its bid to join the European Union in line with pledges made two years ago by its then new eurosceptic governmentIceland on Thursday announced it was dropping its bid to join the European Union in line with pledges made two years ago by its then new eurosceptic government. Iceland first applied for EU membership in 2009 but Foreign Minister Gunnar Bragi Sveinsson said in a statement that the centre-right government had informed current EU president Latvia and the European Commission of its decision to annul the application. “Iceland’s interests are better served outside the European Union,” the minister wrote on his website. Iceland first applied for EU membership under a leftist government in 2009, when the country was badly shaken by an economic crisis that saw the Icelandic krona lose almost half its value, making eurozone membership an attractive prospect.

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