Iceland, a small island nation whose population is roughly the same as that of Wichita, Kansas, is set to vote on Saturday to decide whether to restart the talks—paused for more than ten years—about joining the European Union.
This decision is not primarily driven by economic calculations. As a member in good standing of the European Economic Area, Iceland already enjoys the main economic benefits of EU membership—free movement of goods, services, capital, and people—while still preserving control of its own currency and enjoying somewhat broader policy discretion than it would as a full EU member.
