[aikah]

> That would require withdrawing from Schengen

No, Ireland isn't in the Schengen zone. Irish people are free to visit Europe (since part of the EU). Also a Schengen VISA DOES NOT allow one to visit oversea French territories. You can't visit The Guadeloupe with a Schengen VISA. So things are a bit more complicated and wouldn't necessary impact Icelander's ability to travel to Europe, it entirely depends on what kind of deal Island signed with the rest of the EU.