Iceland has had its own parliament since 930 with only a 45 year break.

Emperor Barroso is happy with the vote, saying that Iceland is a "European country with long and deep democratic roots". He likes a challenge does Emperor Barroso, unravelling 1,079 of parliamentary democracy in 4 years will keep him busy.
He went on to say that it was evidence of the "vitality of the European project and indicative of the hope that Europe represents". Hope that the net contributors to the imperial treasury - the UK, the Netherlands and Germany - will bail them out and they will need bailing out for a long time because not only has their banking sector been devastated but they will find their fishing industry eradicated by EU fishing quotas and their tourism industry wiped out by the EU's green taxes targeted at preventing people from flying.
Iceland has two options for the future - they can either stay as an independent, sovereign nation and emerge from recession in a few years as an independent, sovereign nation or they can submit themselves to EU imperialism and have their economy pegged at third world levels for the next few decades.