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They are already in the European Economic Area (as part of EFTA). Therefore, economically and in terms of "internal market" legislation, nothing would change.

EU accession in this case is all about Eurozone accession, that is, a Bundesbank bailout and takeover of Iceland.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Mon Mar 8th, 2010 at 10:35:10 AM EST
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