It is hard to rationally explain how a small, peaceful and easily governed country can fall from being one of the planet''s most developed and prosperous economies to nearly going bankrupt – and all this during a few years time. Yet – it is exactly what happened to the small country of Iceland. Severe banking crisis forced Iceland to borrow billions of USD, and – while searching for new political and economical solutions – the Reykjavik based government decided on joining the European Union. Negotiations are still in process, and the Icelanders themselves will have the last say in the matter – whether to join the organization they had been avoiding for decades or not. In order to find out more about the Northern country, its history, economy, politics and attempts to join the EU – read this book.