Jack Power

would effectively present whatever deal they'd got back to the people to say, OK, now here is what we have on the table.

Should we become members of the European Union?

And that negotiation process, as I said, because they're already quite aligned, could be pretty quick.

But there's some very big sticking points.

As you said, the experience of the financial crash will probably escalate.

They'll resonate with people.

But the real big one is fish and fishery.

So at the moment, Iceland obviously has a huge economic area from which it can fish and fishing waters.

I mean, that's one of their biggest and main exports.

And part of the lifeblood of the Icelandic economy is their fishing sector and their fishing industry.

So that's of most concern and concern.

the biggest point of anxiety of what would this mean for fisheries?

Because at the moment, in their current relationship with the EU, they basically have an opt-out that says, yeah, we're part of the European economic area, but not when it comes to fisheries.

So you'll imagine that there'll be quite a lot of pretty contentious haggling between Brussels and Reykjavik over where exactly the line is drawn, you know, how much extent Iceland would have to open up its fishing waters to...

trawlers from EU member states and you can imagine the sensitivities there.

Yeah, and I think most people recognise that, you know, Iceland probably wouldn't be able to get, as you say, an a la carte to opt out to the fish to say, oh, well, we like everything else.

But, you know, on this one point, we're not joining because, you know, that's not really how, you know, the EU's single market and the principle of the whole thing works.

You can't have it all your way.

So the question is, what kind of

And I think it's probably fair to say, you know, Brussels isn't keen about starting these renegotiations because it wants, it's going after Icelandic fishing waters.