Iceland’s government on Friday, March 6, proposed that a referendum be held on August 29 on resuming the country’s EU membership talks after they were terminated in 2015. The North Atlantic island submitted an EU membership application in 2009, a year after the stunning collapse of its financial sector. Negotiations began in 2010 but were suspended three years later following parliamentary elections, and in 2015 the then-government announced the talks were terminated.

Foreign Minister Thorgerdur Katrin Gunnarsdottir told reporters she would present the proposal to parliament early next week. “We intend to ask the nation the following question: ‘Should negotiations on Iceland’s accession to the European Union continue?’ And then the nation can answer with two options: ‘Yes, negotiations should continue’, or ‘No, they should not continue,'” she said.

The three parties of the center-left coalition government had agreed in their government platform to hold a vote on the issue by the end of 2027. Prime Minister Kristrun Frostadottir said the time was right for a referendum. “Iceland is strong economically, but also in terms of national self-confidence, and thus able to make this decision,” she said.

When Iceland’s accession negotiations were paused, 27 of the 33 chapters had been opened, and 11 had been concluded, said the government. The chapter on fisheries, expected to be the thorniest, had not been opened.

The European Union’s enlargement chief Marta Kos on Friday said Iceland was set for a “significant decision” with its referendum. “Iceland is already a strong and strategic partner,” she said in a statement sent to AFP. “In a world of competing spheres of influence, EU membership offers an anchor into a bloc grounded in values, prosperity and security.”

An opinion poll published in early February by public broadcaster RUV indicated that the Icelandic public was evenly divided on the question of EU membership.