The Global Financial Crisis and the Problem of Iceland's Membership in the European Union

Busch Magdalena and Molendowski Edward
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Busch Magdalena: Faculty of Economics and International Relations, Cracow University of Economics, Rakowiecka 27, 31-510 Cracow
Molendowski Edward: Departament of International Economic Relations, Cracow University of Economics, Rakowiecka 27, 31-510 Cracow

Folia Oeconomica Stetinensia, 2011, vol. 10, issue 1, 110-119

Abstract: The article is an attempt of showing how the global economic crisis has influenced the Icelanders attitude towards the European Union membership. The possible consequences of the accession for Iceland and the European Union as well are also presented. It was untill 2008 that the Icelanders had not considered the matter of European Union membership, the more so the prospect of adopting the euro. It turns out that the global economic crisis, which affected the Icelandic economy really badly, changed the goverment's and Icelandic society attitude towards integration with European Union to a large extent. In July 2009 Iceland officialy applied for the membership in the European Union. However, it turned out quickly that the fears about securing the crucial sectors of Icelandic economy in the future accession treaty are beginning to dominate.

Keywords: global financial crisis; Icelandic financial crisis; Iceland's membership in the European Union; EU enlargement; EU internal market; global financial crisis; Icelandic financial crisis; Iceland's membership in the European Union; EU enlargement; EU internal market (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:10:y:2011:i:1:p:110-119:n:4

DOI: 10.2478/v10031-011-0004-3

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