Iceland to withdraw EU membership application

The Icelandic government intends to officially withdraw its application for EU membership.

Sigmundur Gunnlaugsson, the Icelandic Prime Minister, said that "Participating in EU talks isn't really valid anymore" and that it is his party's policy to withdraw Iceland's EU membership application.

Iceland is a member of the EEA, EFTA and Schengen - all without surrendering its sovereignty to the EU.