Flexibility, security: why Iceland belongs in the eurozone

Iceland will hold a referendum on Aug. 29 on whether to resume EU membership negotiations. Should Icelanders vote “yes”? As a member of the European Economic Area, the Schengen Area, and the European Free Trade Association, Iceland already enjoys the EU’s free movement of goods, services, people, and capital. It applies the same regulatory standards to its financial sector as EU member states do, and Icelanders and visitors to Iceland can travel throughout most of Europe without a passport check.

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