Joining the EU is generally a bad idea. If Iceland does this, its citizens will likely regret it. If you don't see why, try asking Greece, or just watching "The

Joining the EU is generally a bad idea. If Iceland does this, its citizens will likely regret it. If you don't see why, try asking Greece, or just watching "The Adults in the Room" (In fact, the people in several states in the EU thought it was a bad idea but their states' parliaments ratified Maastricht anyway.) I'm guessing the EFTA/EEC agreements are nice enough.