By Magnus Bjarnason
Iceland can give some thought to its participation within the eu fiscal region (EEA) as an affiliate club of the ecu Union (EU). lower than the EEA contract, Iceland participates within the european unfastened circulation of capital, people, prone and commercial items, in addition to cooperation in social coverage and similar fields. despite the fact that, Iceland doesn't perform the european universal Fisheries coverage (CFP), the european universal Agricultural coverage (CAP), the eu monetary and financial Union (EMU), or within the ecu Customs Union. This dissertation reviews the consequences of complete ecu club on Iceland's Political economic climate. It supplies an outline of the european, EEA and the eu unfastened exchange organization (EFTA), supplying thorough analyses of the EMU, Agricultural coverage and Fisheries coverage. The dissertation additionally studies the professionals and cons of ecu club. a choice to hitch the european is in any case a query of political selection and this dissertation is meant to make any such selection as knowledgeable as attainable.
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Additional resources for The Political Economy of Joining the European Union. Iceland's Position at the Beginning of the 21st Century
Upon the creation of the EEA in 1992 (implemented in 1994), Iceland became an EEA member along with the other EFTA states (less Switzerland). The EEA membership, however, caused some serious political discussions in Iceland, which often sounded more like high politics rather than economics. (Discussed in more detail in chapter 3). 37 Billion meaning thousand millions (1 000 000 000). Statistics Iceland GDP of 2007 with the exchange rate of August 2008. This figure is a guideline only as the Icelandic economy has had a very rapid growth between 2000 and 2007, followed by large exchange rate correction (fall) against major currencies in 2008.
62 The Left-Green Movement (Vinstri Graenir) is a relatively hard-line socialist party. The Left-Green Movement did not exist when Iceland joined the EEA. Many of its supporters came from the former People’s Alliance (Althydubandalagid). 52 Chapter 3. Political Debate on Europe In 2008, when the economic boom of 2000-2007 came to an abrupt end, followed by allegations of corruption and financial misconduct within the major Icelandic banks63, eventually forcing the government to step down, the discussion on Iceland’s economic and political future took a different course.
Switzerland has bilateral agreements with the EU. 31 Within the European Union, national competition authorities continue to exist and form a cooperative network. The European Commission (Directorate General for Competition) assists national courts by transmission of information and opinions intended for an effective enforcement of European competition rules throughout the community. This includes enforcement of competition rules on antitrust, mergers, state infringements, and control of state aid.
The Political Economy of Joining the European Union. Iceland's Position at the Beginning of the 21st Century by Magnus Bjarnason