The European Commission is set to recommend on February 24 that the European Union starts accession negotiations with Iceland, dpa quoted diplomats as saying today. Iceland asked to join the bloc in July 2009, reversing a decades-long policy of independence, in the wake of the global financial crisis that a year ago saw its three main banks collapse. A source from the EU executive said that a positive assessment on the start of entry talks "is on the provisional agenda of the weekly meeting of commissioners on February 24," but added no final decision has been made. Swedish foreign minister Carl Bildt indicated the issue was discussed in a meeting with Icelandic counterpart Ossur Skarpheoinsson on Tuesday in Stockholm. "We hope that it will be possible for the commission in Brussels next week to present its assessment of Iceland's potential to become a member - and also to recommend starting concrete accession negotiations with Iceland," he posted on his blog. Negotiations need to be green-lighted by EU foreign ministers before they can actually start. They are expected to launch a preliminary discussion on the subject at their next meeting on Monday in Brussels. Compared to other EU-hopefuls in the Balkans and Turkey, Iceland is expected to complete talks in a relatively short period of time, as it already complies with the EU's single market rules by virtue of being a member of the European Economic Area (EEA). Sticking points are likely to emerge over fishing rights - a major part of Icelandic economy - and treatment of EU citizens who lost money as a result of the Icelandic banking system, with the Brits and the Dutch asking for full reimbursement. Entry to the EU also depends on referendum approval by Icelandic citizens, who according to opinion polls carried out so far are not enthusiastic of the prospect. Assuming all hurdles are overcome, the Nordic country is expected to join the EU in 2012 or 2013, possibly along with Croatia. They would bring the bloc's membership to a total of 30 countries.
