European Journal | Iceland: Next EU candidate?

Iceland would very much like to join the EU. Not because the country is especially enthusiastic about Europe, but in order to rapidly introduce the Euro. It's hoped the common currency will help Icelanders to solve their economic problems.But the people of Iceland may end up putting themselves out of the running. On 6th March 2010, Icelanders are set to vote on what's known as the Icesave Agreement. The referendum will decide whether the state, as agreed by parliament, will pay off its debts to Britain and The Netherlands. There is much hanging on an amicable settlement: If the island pays back its international loans, it increases its chances of getting the Euro in the foreseeable future.