b'There is also the case of Iceland, which,Icelands GDP grew by 3.6%, whereas the having always resisted EU membership,average GDP growth in the EU was 2.4 %). actually applied for EU membership on 16 July 2009. The reasons for the applicationThere is a simple conclusion. It is only poor derived from the circumstances of Icelandscountries that now want to join the EU. These financial institutions in 2008- 2009. To quotecomparatively poor countries will inevitably no less an authority than the Europeanmake further demands on the EU budget, Movement:and, in consequence, disproportionately drain UK and western European taxpayers.In September and October 2008 Icelands three main banks all faced collapseNew proposals, like the European Pillar of and had to be rescued by the state.Social Rights, would further intensify the The Icelandic krna had declined by 35demands on the UK, a net contributor to the percent from January to September 2008EU even after Brexit. The proposed European and inflation was running at 14 per cent.Pillar of Social Rights would provide When the banks collapsed their debtsminimum income, pensions, childcare, exceeded Icelands GDP many timesand social housing to all member states in the over EU. Such a proposal would largely be . redundant in the UK and western Europe, but IfIceland joined the EU. this wouldofferwould still require the west to shoulder the the country a safe haven to cope with itsmassive expense of providing these benefits economic problems.4 to the east of Europe.To cut a long story short, Iceland then madeRich countries - Norway and Switzerland, a marked economic recovery during 2009-and now Iceland - want to stay out of the EU. 2015. Iceland became a rich country all overThe 1960s Leftist anti-EU refrain was that the again. In consequence, the governmentEU was a rich mans club. From the UKs of Iceland took the view that the EU safeviewpoint now, would that the epithet rich haven was no longer requiredcertainlymans club were still true. As Conservative not enough compensation for Iceland beingMEP Andrew Lewer has pointed out, it is a subject to the EUs Common Fisheriesclub which Albania and Serbia want to join, Policy and its fish stocks being devastated.but which Norway, Switzerland and Iceland Iceland formally withdrew its application fordo not.EU membership on 12 March 2015 (in 2017, 154'