could rise by 12 percentage points should Iceland join the EU and EMU. This trade boost could consequently raise GDP per … can up to triple their trade by joining a currency union. If true the impact on trade, income and welfare should Iceland … findings suggest that the Iceland's trade with other EMU countries could increase by about 60% and that the trade-to-GDP ratio …

EMU is smaller, but still substantial. Our findings suggest that the Iceland's trade could increase by about 60% and that … the trade-to-GDP ratio could rise by 12 percentage points should Iceland join the European Union and EMU …