There were advantages and disadvantages to EU membership, Icelandic Fisheries Minister Einar Gudfinnsson said.
The country's fishing industry, "will be worse off inside the EU than outside it," he said.
"It's strange to see a debate over membership that does not include questions on the fundamental interests of the fishing industry," Gudfinnsson said, speaking at the annual general meeting of the National Association of Small Boat Owners.
In the light of the recent financial tsunami that has battered Icelandic business life and has paralysed the banking system, Gudfinnsson said the industry needs a cool evaluation of where the country's interests lie.
While
