BRUSSELS, August 30. /TASS/. The "no" vote in Iceland's referendum on EU accession dealt a heavy blow to Brussels' hopes of expanding northward, Euractiv reported, commenting on the results of the referendum in Iceland.

"[This was] a major setback for Brussels’ dreams of expanding the bloc," the news outlet noted, adding that Brussels had been courting supporters of launching accession negotiations.

Before the referendum, European Commissioner for Enlargement Marta Kos engaged in a flurry of media activity. In her interviews, she promised Reykjavik that negotiations would take a record-short time of one to two years and that the country could join the EU as early as 2028. She also stated that Iceland’s decision to begin negotiations would strengthen the EU’s position on admitting new members.

Euractiv emphasized that supporters of EU accession convinced Icelanders that joining the eurozone would bring record-low inflation (even though EU membership does not imply automatic eurozone accession).

However, opponents of the EU won over more voters by arguing that joining the EU would undermine Iceland’s sovereignty and impose restrictions on fishing.