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Icelanders voted on Saturday in a closely contested referendum on whether to reopen negotiations to join the European Union. The vote has divided the country, with polls showing supporters and opponents of renewed talks almost evenly matched. Key issues include the cost of living, high interest rates, national sovereignty and control over fishing waters.

Supporters argue that closer ties with the EU could strengthen Iceland’s economy, potentially ease borrowing costs and provide greater security amid geopolitical tensions. Opponents say EU membership could weaken Iceland’s independence and threaten its control over its valuable fishing industry.

A “yes” vote would only restart negotiations with Brussels, not guarantee EU membership. Iceland would hold a second referendum on any eventual accession agreement. Polling stations close at 2200 GMT, with results expected in the early hours of Sunday. Reuters reports that negotiations could begin by the end of 2026 and take 18 to 24 months.

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A new poll shows Icelanders narrowly divided over whether the country should reopen negotiations with the European Union. The August 24-27 survey of 4,583 people found 51.6% opposed talks on EU membership, while 48.4% supported them.

Iceland ended its previous EU accession talks in 2013 after a Eurosceptic government came to power. However, rising living costs and the war in Ukraine have renewed public interest in reconsidering membership, with the government describing the issue as a “now or never” moment.

EU membership would give Iceland a direct role in European decision-making and access to the bloc’s customs union, while also providing the option of adopting the euro. The latest polling highlights how closely divided voters remain ahead of the referendum.

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Iceland will hold a referendum on August 29 on whether to restart negotiations to join the European Union, a move EU officials believe could strengthen public support for further enlargement. Iceland already has access to the EU single market through the European Economic Area, and diplomats say its potential return to membership talks could improve the bloc’s image among sceptical voters.

A Gallup poll shows Icelanders evenly split, with 46% supporting and 46% opposing a restart of negotiations, while 8% remain undecided. EU diplomats see Iceland, a wealthy country with a population of around 400,000, as a relatively easy candidate to integrate and believe its possible accession could help build momentum for countries such as Montenegro, Albania, Moldova and Ukraine.

If talks resume, fisheries are expected to be the most difficult issue because of the sector’s importance to Iceland’s economy and national identity. EU Enlargement Commissioner Marta Kos said negotiations could take one to two years, with membership ultimately requiring a second referendum in Iceland and approval from all 27 EU member states.

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