Iceland to withdraw EU application, lift capital controls - Main contents

Despite public protests, Iceland’s PM Gunnlaugsson plans to for­mally with­draw the coun­try's EU ap­pli­ca­tion early in the new year, he told Ice­landic ra­dio sta­tion Byl­g­jan on Sun­day. First steps of removing cap­i­tals con­trols, in place since the fi­nan­cial cri­sis hit Iceland in 2008, would likely be taken as well.