Iceland's membership talks with the European Union are likely to be fast, although the North Atlantic island will not be granted any privileges over other candidates, EU president Sweden said.
EU foreign ministers were set today to put Iceland on the road towards the EU by asking the European Commission, the EU's executive arm, to assess how well prepared the country is to begin membership negotiations.
"There is no fast-track for Iceland but rather a shorter track because they are already a part of the single market and the Schengen area," Swedish foreign minister Carl Bildt told reporters ahead of the ministers' meeting in Brussels.
Iceland applied to join the EU after being hit hard by the global economic crisis which saw the Icelandic crown collapse and three top banks fail in a matter of days. Joining the EU and adopting the euro would add stability to the economy.
European Commission officials said it was unclear how long it would take for them to give an assessment on Iceland. Diplomats said the fastest it had been done was 14 months.
"We are not giving a date (for EU entry), but hopefully sending the application for an avis (opinion) to the (European) Commission. My hope is that the Commission can give a statement by the end of the year," Finnish foreign minister Alexander Stubb said.
"I think it (Iceland) is a country that belongs to the EU. At the same time, it is important to get the negotiations going and remember that every member gets in on merit."
French foreign minister Bernard Kouchner said consideration would have to be given to countries that had already applied for full EU membership ahead of Iceland.
"It depends on how we handle the process. Nobody has voiced opposition towards Iceland but I think we have to respect the order of the countries that applied for entry," he said.
"We can't go too fast but there is no obstacle from our side," he said.
Belonging to the single market means Iceland already follows tough EU laws on competition, state aid and trade. In the Schengen area, people can travel without restrictions.
Mr Bildt said that while working with Iceland on its accession, EU governments should not forget about candidate countries from the Balkans, such as Serbia and Albania.
Austria's European and international affairs minister Michael Spindelegger said: "We Austrians want Croatia to go together with Iceland and Albania, which applied for membership too, in one direction - in the direction of the EU.
"One has to say 'yes' to Iceland, but 'yes' to Croatia too," Mr Spindelegger said.
Analysts and some politicians say speedy progress of Iceland, which applied to join the EU this month, could create frustration in the Balkans.
"We need to get to a better momentum in the Balkans. We must keep a momentum of the European integration," Mr Bildt said.
"I don't think it (possible frustration in the Balkans) has anything to do with Iceland. It has everything to do with blockages that we have. Those worry me a lot," he said.
Ministers are expected to reiterate the membership perspectives of Balkan countries and stress that they will attend to Albania's application once its election procedures have been completed.
Reuters