Icesave dispute
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The Icesave dispute was a diplomatic dispute among Iceland, the Netherlands and the United Kingdom. It began after the privately owned Icelandic bank Landsbanki was placed in receivership on 7 October
Geir Haarde and Gordon Brown in happier times. This meeting, at 10 Downing Street on 24 April 2008, was the only time the two men had met prior to the 2008–11 Icelandic financial crisis. Even in April, the problems of the Icelandic banking sector were one of the topics of discussion between the two Prime Ministers.
Alistair Darling, UK Chancellor of the Exchequer during the Icesave dispute
Over 80,000 people signed an online petition against Britain's use of "anti-terrorism legislation" against Landsbanki, under the theme "Icelanders are NOT terrorists". Many sent in satirical images such as this one as part of the protest.
Iceland is heavily integrated into the European Union via the Agreement on the European Economic Area and the Schengen Agreement, despite its status as a non-EU member state. Iceland applied for membe
Though Iceland is not in the EU, it is a member of the Schengen area
In fisheries, the most important sector of the Icelandic economy, Iceland has a €879 million trade surplus with the EU.