Membership of the European Union entails changes in many policy areas, including economic policy, monetary affairs, legislation, and participation in the institutions of the Union. The experience of other Member States shows that membership has both advantages and disadvantages, which countries assess differently according to their own circumstances and national interests.
It is important to reiterate, however, that the referendum on 29 August is not about whether Iceland should join the European Union.
On 29 August, Icelandic voters will decide whether Iceland should resume accession negotiations with the European Union.
If the EU accession negotiations result in an accession treaty, it would be put before voters in a second referendum.