Iceland is preparing to make a formal bid for European Union membership within days as it turns to Brussels for help in stabilising its shattered economy. Its parliament on Thursday narrowly voted in favour of accession talks, a decision that reflected a shift in public opinion that had been fiercely opposed to membership. It now faces two years of negotiations before it holds a national referendum on whether to join the bloc of 27 countries.

This entry was posted by Paul Murphy on Friday, July 17th, 2009 at 5:31 and is filed under Capital markets. Tagged with iceland. Edit this entry.